WALMART Income Statement Vertical Common Size, with discussion of trends Prepare vertical common size statements for each of the 4 years (2017,2016,2015,2014) using the following format. Be sure that net sales, gross profit, operating income, earnings before taxes, and net income match the annual report dollar amounts. Identify trends for each account. Comment on the trends. Net Sales 100% Less: Cost of Goods Sold = Gross Profit Less: Other Expenses = Operating Income Less: Interest Expense + / - : Other Adjustments 9 = Earnings Before Taxes Less: Income Taxes = Net Income before Extraordinary Items + / -: Extraordinary Items; Adjustments; etc. Includes non-controlling net income. = Net Income attributable to your corporation