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BUS 535 WU Managerial Accounting Amazon Income Statement Report

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ACTIVITY 1
Rushikesh Ajay Ambildhok
Managerial Accounting BUS 535
04/06/2021
Dr, Yvan Nezerwe
Westcliff University
Choose a major publicly traded corporation, then go to the corporate’s site and retrieve the
information needed for this assignment. Provide information about the history of the
corporation and its current product offerings. Provide a screenshot of the corporate’s latest
reported income statement. Organize the income statement in an Excel file to enable you to
verify the arithmetic in the income statement and explain your verifications. Also, explain the
nature of each item in the income statement. At least 5 scholarly references are required which
should include the corporate’s site as the source of the data. In-text citations are required
throughout the document. All submissions should be in one Word file.
Answer:
For this assignment, I have chosen Amazon Inc as the publicly traded corporation.
Amazon was founded by Jess Bezos in 1994. Initially the company was named Cadaver and
was run from the garage of Jeff Bezos’s house in Bellevue, Washington. The motivation behind
naming it Amazon was the river Amazon and the literal meaning of Amazon. Amazon means
exotic and beautiful, and the river Amazon is the biggest river in the world. Initially, Jess Bezos
was focussing on building an online bookstore but after realizing the potential of internet as a
platform for retail, he made a list of twenty products that would be sold on an online platform.
Today, Amazon sells many products ranging from electronics, pharmacy, grocery, clothing,
office products, smart home devices to online video streaming and gaming.
Below is the screenshot of the income statement of amazon for 2020.

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