Using the below Income Statement Create a Common-Size income statement. Walmart Inc.'s Consolidated Statement of Income As of January 31, (Amounts in millions) (Amounts in millions, except per share data) 2019 2018 2017 Revenues: Net sales $ 510,329 $ 495,761 $ 481,317 Membership and other income 4,076 4,582 4,556 Total revenues 514,405 500,343 485,873 Costs and expenses: Cost of sales 385,301 373,396 361,256 Operating, selling, general and administrative expenses 107,147 106,510 101,853 Operating income 21,957 20,437 22,764 Interest: Debt 1,975 1,978 2,044 Capital lease and financing obligations 371 352 323 Interest income (217) (152) (100) Interest, net 2,129 2,178 2,267 Loss on extinguishment of debt - 3,136 - Other (gains) and losses 8,368 - - Income before income taxes 11,460 15,123 20,497 Provision for income taxes 4,281 4,600 6,204 Consolidated net income 7,179 10,523 14,293 Consolidated net income attributable to noncontrolling interest (509) (661) (650) Consolidated net income attributable to Walmart 6,670 9,862 13,643 Net income per common share: Basic net income per common share attributable to Walmart 2.28 3.29 4.4 Diluted net income per common share attributable to Walmart 2.26 3.28 4.38 Weighted-average common shares outstanding: Basic 2,929 2,995 3,101 Diluted 2,945 3,010 3,112 Dividends declared per common share 2.08 2.04 2.00

Using the below Income Statement Create a Common-Size income statement. Walmart Inc.'s Consolidated Statement of Income As of January 31, (Amounts in millions) (Amounts in millions, except per share data) 2019 2018 2017 Revenues: Net sales $ 510,329 $ 495,761 $ 481,317 Membership and other income 4,076 4,582 4,556 Total revenues 514,405 500,343 485,873 Costs and expenses: Cost of sales 385,301 373,396 361,256 Operating, selling, general and administrative expenses 107,147 106,510 101,853 Operating income 21,957 20,437 22,764 Interest: Debt 1,975 1,978 2,044 Capital lease and financing obligations 371 352 323 Interest income (217) (152) (100) Interest, net 2,129 2,178 2,267 Loss on extinguishment of debt - 3,136 - Other (gains) and losses 8,368 - - Income before income taxes 11,460 15,123 20,497 Provision for income taxes 4,281 4,600 6,204 Consolidated net income 7,179 10,523 14,293 Consolidated net income attributable to noncontrolling interest (509) (661) (650) Consolidated net income attributable to Walmart 6,670 9,862 13,643 Net income per common share: Basic net income per common share attributable to Walmart 2.28 3.29 4.4 Diluted net income per common share attributable to Walmart 2.26 3.28 4.38 Weighted-average common shares outstanding: Basic 2,929 2,995 3,101 Diluted 2,945 3,010 3,112 Dividends declared per common share 2.08 2.04 2.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using the below Income Statement Create a Common-Size income statement.

Walmart Inc.'s Consolidated Statement of Income

	As of January 31,
	(Amounts in millions)
(Amounts in millions, except per share data)	2019	2018	2017
Revenues:
Net sales	$ 510,329	$ 495,761	$ 481,317
Membership and other income	4,076	4,582	4,556
Total revenues	514,405	500,343	485,873
Costs and expenses:
Cost of sales	385,301	373,396	361,256
Operating, selling, general and administrative expenses	107,147	106,510	101,853
Operating income	21,957	20,437	22,764
Interest:
Debt	1,975	1,978	2,044
Capital lease and financing obligations	371	352	323
Interest income	(217)	(152)	(100)
Interest, net	2,129	2,178	2,267
Loss on extinguishment of debt	-	3,136	-
Other (gains) and losses	8,368	-	-
Income before income taxes	11,460	15,123	20,497

Provision for income taxes	4,281	4,600	6,204
Consolidated net income	7,179	10,523	14,293
Consolidated net income attributable to noncontrolling interest	(509)	(661)	(650)
Consolidated net income attributable to Walmart	6,670	9,862	13,643
Net income per common share:
Basic net income per common share attributable to Walmart	2.28	3.29	4.4
Diluted net income per common share attributable to Walmart	2.26	3.28	4.38
Weighted-average common shares outstanding:
Basic	2,929	2,995	3,101
Diluted	2,945	3,010	3,112
Dividends declared per common share	2.08	2.04	2.00

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