• Prepare a detailed income statement for Walmart Inc. for the year ended December 31, 2023.
• Include the following details:
  • Sales Revenue: $900,000
  • Cost of Goods Sold: $550,000
  • Operating Expenses:
    • Salaries Expense: $100,000
    • Rent Expense: $50,000
    • Utilities Expense: $20,000
    • Depreciation Expense: $30,000
  • Interest Expense: $15,000
  • Income Tax Expense: $35,000

Question:

Using the given data, prepare the detailed income statement for Walmart Inc. for the year ended December 31, 2023. Calculate the Gross Profit, Total Operating Expenses, Operating Income, and Net Income.