Prepare a multiple step income statement for year ending

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Question - Walmart data below, prepare, in good form, a Multiple Step Income Statement for year ending December 31, 2012.

Data:

Cost of Goods Sold

335,127,000

Depreciation Expense

10,265,000

Extraordinary loss

50,000

Income from operating discontinued clothing line

100,000

Insurance Expense

10,000,000

Interest Expense

2,322,000

Loss from Effects of Strike

62,000

Loss on disposal of discontinued clothing line

167,000

Rent Expense

15,000,000

Salaries Expense

50,000,000

Sale of Equipment

224,000

Sales

446,950,000

The company has a tax rate of 30%.

The company did not pay any preferred dividends

The company is NOT in the business of selling equipment.

The company has 3,500,000 shares of common stock outstanding.

Reference no: EM131988596

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