The condensed income statements through operating income for Amazon.com, Inc. (AMZN), Best Buy Co., Inc. (BBY), and Walmart Inc. (WMT) for a recent fiscal year follow (in millions):

1. Prepare comparative common-sized income statements for each company.
2. Use the common-sized analysis to compare the financial performance of the three companies.

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Sales Cost of sales Gross profit Selling, general, and administrative expenses Operating expenses Operating income Amazon $280,522 (165,536) $114,986 (100,244) (201) $ 14,541 Best Buy $ 43,638 (33,590) $ 10,048 (7,998) (41) $ 2,009 Walmart $ 523,964 (394,605) $ 129,359 (108,791) 0 $ 20,568