1. Walmart's net sales in fiscal year 2021 increased $6.79% from 2020 to $555,233 million, its gross profit (or margin) increased 20 bps to 24.30%, and its operating income (or profit) rate increased 6 bps to 4.06% from 2020. A. Please complete the P&L statement of Walmart in 2021 and 2020. B. According to its annual report, Walmart's effective tax rate was 33.3% for 2021 and 24.4% in 2020. Its net income in 2021 and 2020 were $13.7 billion and 15.2 billion respectively. Although the company's net sales and operating income increased in 2021 but its net income decreased due to the higher effective tax rate. Please find out Walmart's net profit margin (%) in 2021 and 2020 and describe bps change between the two fiscal years.

1. Walmart's net sales in fiscal year 2021 increased $6.79% from 2020 to $555,233 million, its gross profit (or margin) increased 20 bps to 24.30%, and its operating income (or profit) rate increased 6 bps to 4.06% from 2020. A. Please complete the P&L statement of Walmart in 2021 and 2020. B. According to its annual report, Walmart's effective tax rate was 33.3% for 2021 and 24.4% in 2020. Its net income in 2021 and 2020 were $13.7 billion and 15.2 billion respectively. Although the company's net sales and operating income increased in 2021 but its net income decreased due to the higher effective tax rate. Please find out Walmart's net profit margin (%) in 2021 and 2020 and describe bps change between the two fiscal years.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: The correct option is : A) Open/Closed Principle Reason : The Open/Closed Principle (OCP) is a…

Q: How would you find FW with excel functions?

A: MARR is 20% EOY Cash Flow 0 $ -70,000.00 1 $ 20,000.00 2…

Q: look at the image to help me solve the problem

A: In Double Entry System, the total of assets are always equal to the total of liabilities.

Q: Hi - could you please send the CAPM model and explain what it is and when to use it please? Thank…

A: Capital Asset Pricing Model (CAPM):It defines the relationship of an asset’s expected return with…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: The correct answer in the context of sheaf theory is a category equipped with a Grothendieck…

Q: is the target of data flow. Select one: O a. Destination O b. Pass O c. Source O d. Stores

A: Which is the target of data flow as follows:-

Q: hi, can I get the solution or the computation?, thank you!

A: Journal entries (JF) refers to the very basic step in the accounting cycle and records the daily…

Q: Compare between Virtual merchant and Bricks-and-clicks e-tailers.

A: Business model Business model refers to the plan of a company by following which the business sells…

Q: Using CVP analysis answer from d to g

A: Hi student Since you have asked for multiple subparts, we will answer only three subparts. If you…

Q: How to create the t account

A: T account is a representation of the legder that records business transactions. It is in the form of…

Q: What is an important advantage gained by using a spreadsheet?

A: Spreadsheet is an important tool for recording information in the form of rows and columns into…

Q: Write the note on JIT technique, what is the full form of JIT?

Q: Kindly answer #4-6 will surely given an upvote please show complete solution

A: Current assets are those assets which can be converted into cash or cash equivalents within one year…

Q: Can you use excel to do the data please.

A: The cost of direct material used is defined as the cost attributed to the production of end…

Q: When should you use Power BI Services?

A: While a) When you want to clean, shape, and transform data is true to some extent, Power Pivot…

Question

Pls do fast and i will rate instantly for sure

Solution must be in typed form

1. Walmart's net sales in fiscal year 2021 increased $6.79% from 2020 to $555,233 million, its gross
profit (or margin) increased 20 bps to 24.30%, and its operating income (or profit) rate increased 6
bps to 4.06% from 2020.
A. Please complete the P&L statement of Walmart in 2021 and 2020.
B. According to its annual report, Walmart's effective tax rate was 33.3% for 2021 and 24.4% in
2020. Its net income in 2021 and 2020 were $13.7 billion and 15.2 billion respectively. Although
the company's net sales and operating income increased in 2021 but its net income decreased
due to the higher effective tax rate. Please find out Walmart's net profit margin (%) in 2021 and
2020 and describe bps change between the two fiscal years.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 Walmart's P and L statement

VIEW

Step 2 Profit Margin

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

In fiscal year 2021, Walmart Inc. (WMT) reported annual revenue of $572.75 billion, gross profit of $143.75 billion, and net income of $13.67 billion. Costco Wholesale Corporation (COST) had revenue of $195.9 billion, gross profit of $25.25 billion, and net income of $5.01 billion. a. Compare the gross margins for Walmart and Costco. b. Compare the net profit margins for Walmart and Costco. c. Which firm was more profitable in 2021?
12
1
The following information pertains to JCU Company. All dollar amounts are in thousands. If JCU is computing trend percentages with 2018 as the base year, what % will 2019 sales be? Sales Gross Margin Net operating income Net income Year 2020 $58,000 $17,500 $3,200 $1,750 2019 $51,000 $15,100 $2,850 $1,400 2018 $47,000 $13,800 $2,100 $1,100
Abbott Laboratories’ Consolidated Statements of Earnings for the 3 fiscal year’s ending December 31, 2019. Required: Using the attached earnings statement, for each period presented, Compute the gross margin % Note: Gross margin % = [(Net sales – Cost of products sold)/Net sales] x 100 Compute the net profit margin on sales % Note: Net profit margin % = (Net earnings/Net sales) x 100 Considering the 3-year trend for a. and b. above, provide a brief comment about the company’s performance for: Gross margin % and Net profit margin %.
4. The following common size income statement are available for Gaea Corporation for the two years ended December 2019, and 2018 2019 2018 Sales 100% 100% Cost of sales 55% 70% Gross profit on sales 45% 30% Operating (including income tax expense) expenses 20% 18% 25% 12% Net income The trend percentages for sales are as follows: 2017 130% 100% 2016 What should be the trend percentage for gross profit on sales for 2019 A. 58.5% В. 130% С. 150% D. 195% Answer:
The following common size income statement are available for Viva Corporation for the two years ended December 31, 2026 and 2025: 2026 2025 Sales 100% 100% Cost of Sales 55% 70% Gross profit on sales 45% 30% Operating expenses (incl income tax expense) 20% 18% Net income 25% 12% The trend percentages of gross profit on sales for 2026 is? (with 2025 as base year)
Calculate the Sales Growth of the most recent year. Enter answer as decimal (not percent. Example: .1234 is ok, 12.34% is not ok).
In fiscal year 2018, Wal-Mart Stores (WMT) had revenue of $514.41 billion, gross profit of $129.10 billion, and net income of $6.67 billion. Costco Wholesale Corporation (COST) had revenue of $141.6 billion, gross profit of $18.42 billion, and net income of $3.13 billion. a. Compare the gross margins for Walmart and Costco. b. Compare the net profit margins for Walmart and Costco. c. Which firm was more profitable in 2018? a. Compare the gross margins for Walmart and Costco. The gross margin for Walmart is enter your response here %. (Round to two decimal places.) The gross margin for Costco is enter your response here %. (Round to two decimal places.) Part 3 b. Compare the net profit margins for Walmart and Costco. The net profit margin for Walmart is enter your response here %. (Round to two decimal places.) Part 4 The net profit margin for Costco is enter your response here %. (Round to two decimal places.) c. Which firm was more profitable in 2018? (Select from the…
Rousseau Corporation has the following Statement of Income for the year ended May 31, 2020: Sales... $1,675,200 Cost of goods sold.. 887,600 Gross margin... 787,600 Selling & administrative expense.. 241,200 Interest expense. 65,000 Income before income taxes. 481,400 192,500 $288,900 Income taxes.. Net income.... Calculate the interest-coverage ratio for Rousseau Corporation for May31, 2020 (place answer at up to 2 decimal places in the space below). 신
The management of Bataan corporation asked you to submit an analysis of the increase in their gross profit in 2021 based on their past two-year comparative income statements which shows: sales =2020 -1,000,000; 2012- 1,237,500. Cost of Sales= 2020- 800,000; 2021- 950,000. Gross profit =2020- 200,000; 2021 - 287,000. The only known factor given to you is the sales price increased 12.5% beginning January 2021. The increase in sales price caused an increase in gross profit by a. 100,000 B. 137500 C. 110,000 D. None of these
The management of Bataan corporation asked you to submit an analysis of the increase in their gross profit in 2021 based on their past two-year comparative income statements which shows: sales =2020 -1,000,000; 2012- 1,237,500. Cost of Sales= 2020- 800,000; 2021- 950,000. Gross profit =2020- 200,000; 2021 - 287,000. The only known factor given to you is the sales price increased 12.5% beginning January 2021. The decline ingross profit due to increase in cost is: a. 70,000 B. 88,000 C. 97500 D. None of these