Calculations for the common-size income statement

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Reference no: EM133197385

A. Below is a common-size income statement for Walmart for the most recent three years, complete the areas to the left of the numbers. Ignore the section of the income statement that shows Comprehensive Income. (You do not have to show all the underlying calculations for the common-size income statement because it is understood that all the items are a percentage of revenue) Use this exact excel format below, do not make a custom one.

Walmart Inc. Consolidated Statements of Income

Fiscal Years Ended January 31,

(Amounts in millions, except per share data)

                                                 

2022

                                                                     

2021

                                             

2020

Revenues:

 

 

 

 

 

 

Net sales

 

$567,762 

 

$555,233 

 

519,926 

Membership and other income

 

4,992 

 

3,918 

 

4,038 

Total revenues

 

572,754 

 

559,151 

 

523,964 

Costs and expenses:

 

 

 

 

 

 

Cost of sales

 

429,000 

 

420,315 

 

394,605 

Operating, selling, general and administrative expenses

 

117,812 

 

116,288 

 

108,791 

Operating income

 

25,942 

 

22,548 

 

20,568 

Interest:

 

 

 

 

 

 

Debt

 

1,674 

 

1,976 

 

2,262 

Finance lease

 

320 

 

339 

 

337 

Interest income

 

-158

 

-121

 

-189

Interest, net

 

1,836 

 

2,194 

 

2,410 

Loss on extinguishment of debt

 

2,410 

 

 

Other (gains) and losses

 

3,000 

 

-210

 

-1,958

Income before income taxes

 

18,696 

 

20,564 

 

20,116 

Provision for income taxes

 

4,756 

 

6,858 

 

4,915 

Consolidated net income

 

13,940 

 

13,706 

 

15,201 

Consolidated net income attributable to noncontrolling interest

 

-267

 

-196

 

-320

Consolidated net income attributable to Walmart

 

$13,673 

 

$13,510 

 

$14,881 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

Basic net income per common share attributable to Walmart

 

$4.90 

 

$4.77 

 

$5.22 

Diluted net income per common share attributable to Walmart

 

 4.87  

 

 4.75  

 

 5.19  

 

 

 

 

 

 

 

Weighted-average common shares outstanding:

 

 

 

 

 

 

Basic

 

2,792 

 

2,831 

 

2,850 

Diluted

 

2,805 

 

2,847 

 

2,868 

 

 

 

 

 

 

 

Dividends declared per common share

 

$2.20 

 

$2.16 

 

$2.12 

Target Consolidated Statements of Operations

 

Year Ending -various

 

 

(millions, except per share data)

                               

1/29/2022

                                     

1/30/2021

                                           

2/1/2020

Sales

 

104,611

 

92,400

 

77,130

Other revenue

 

1,394

 

1,161

 

982

Total revenue

 

106,005

 

93,561

 

78,112

Cost of sales

 

74,963

 

66,177

 

54,864

Selling, general and administrative expenses

 

19,752

 

18,615

 

16,233

Depreciation and amortization (exclusive of depreciation included in cost of sales)

 

2,344

 

2,230

 

2,357

Operating income

 

8,946

 

6,539

 

4,658

Net interest expense

 

421

 

977

 

477

Net other (income) / expense

 

-382

 

16

 

-9

Earnings from continuing operations before income taxes

 

8,907

 

5,546

 

4,190

Provision for income taxes

 

1,961

 

1,178

 

921

Net earnings from continuing operations

 

6,946

 

4,368

 

3,269

Discontinued operations, net of tax

 

-

 

-

 

12

Net earnings

 

6,946

 

4,368

 

3,281

Basic earnings per share

 

 

 

 

 

 

Continuing operations

 

14.23

 

8.72

 

6.39

Discontinued operations

 

-

 

-

 

0.02

Net earnings per share

 

14.23

 

8.72

 

6.42

Diluted earnings per share

 

 

 

 

 

 

Continuing operations

 

14.1

 

8.64

 

6.34

Discontinued operations

 

-

 

-

 

0.02

Net earnings per share

 

$14.10

 

$8.64

 

$6.36

Weighted average common shares outstanding

 

 

 

 

 

 

Basic

 

488.1

 

500.6

 

510.9

Diluted

 

492.7

 

505.4

 

515.6

Antidilutive shares

 

-

 

-

 

-

 

 

 

 

 

 

 

Note: Per share amounts may not foot due to rounding.

 

 

 

 

B. Below is a common-size income statement for Target for the most recent three years, fill in the areas to the left of the numbers given. Ignore the section of the income statement that shows Comprehensive Income. (You do not have to show all the underlying calculations for the common-size income statement because it is understood that all the items are a percentage of revenue).  Use this exact excel format below, do not make custom one.

Reference no: EM133197385

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