Prepare a multiple-step income statement

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Reference no: EM13764130

The following selected data was retrieved from the Walmart, Inc. financial statements for the year ending January 31, 2013:

Accounts Payable


Accounts Receivable




Common Stock


Cost of Goods Sold


Income Tax Expense


Interest Expenses


Membership Revenues


Net Sales


Operating, Selling and Administrative Expenses


Retained Earnings



Using the information provided above:

1. Prepare a multiple-step income statement

2. Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings/results.

Reference no: EM13764130

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