Oil giant Exxon Mobil tops Fortune magazine's Fortune 500 list.

The latest issue of Fortune magazine has the annual list of America's top earning corporations. In 2011, those 500 companies made a combined profit of $824.5 billion, according to CBS News.

The 2011 combined profit smashed the previous 2006 record of $785 billion and was a 16.4 percent profit increase over 2010.

Those taking from 2nd to 10th places are: Walmart Stores; Chevron; ConocoPhillips; General Motors; General Electric; Berkshire Hathaway; Fannie Mae; Ford Motor; Hewlett-Packard

Apple, previously placed at 35th position, zoomed right up to 17th for this year’s list.