1. Did Wal-Mart report a liability for its operating lease on January 31, 2014 balance sheet? By how much?
2. Did Wal-Mart report a liability for its capital lease on January 31, 2014 balance sheet? By how much?
3. Did Wal-Mart report an asset for its operating lease on January 31, 2014 balance sheet? By how much?
4. Did Wal-Mart report an asset for its capital lease on January 31, 2014 balance sheet? By how much?
5. Assuming an interest rate of 5%, compute the present value of the operating lease commitments on January 31, 2014. Show all calculations for credit.
6. Calculate the Liabilities to Assets ratio and Long-term Debt Ratio for Wal-Mart as of January 31, 2014, using the amounts originally reported in its balance sheet for the year.
Note 11.
Commitments The Company has long-term leases for stores and equipment. Rentals (including amounts applicable to taxes, insurance, maintenance, other operating expenses and contingent rentals) under operating leases and other short-term rental arrangements were $2.8 billion, $2.6 billion and 52.4 billion in fiscal 2014, 2013 and 2012, respectively. Aggregate minimum annual rentals at January 31, 2014, under non-cancelable leases are as follows:

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Unit Selling Price 1.S600 2.$390 3.S Contribution Margin per Unit Unit Variable Costs $360 (c) (f) Contribution Margin Ratio % (b) %(d) (a) $117 $420 40 (e)