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.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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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.

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