Wal-Mart Stores, Inc. is the worlds largest retailer as measured by total revenues. As of January 2016,

Question:

Wal-Mart Stores, Inc. is the world’s largest retailer as measured by total revenues. As of January 2016, the company operated 11,530 retail units under 63 banners in 28 countries and e-commerce websites in 11 countries. Wal-Mart Stores Inc. was founded in 1945 and is based in Bentonville, Arkansas. Presented below are selected parts of Wal-Mart’s 2016 10-K report:

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1. During fiscal year ended January 31, 2016, Wal-Mart repurchased some of its outstanding shares. What was the average price paid for the repurchased treasury shares?
2. Wal-Mart reports a noncontrolling interest account on its consolidated balance sheet. What does the existence of this account reveal about Wal-Mart’s investments in its subsidiaries?
3. Wal-Mart uses the current rate method to account for its foreign subsidiaries. During fiscal year ended January 31, 2016, did the U.S. dollar appreciate, remain unchanged, or depreciate relative to the currencies of the countries in which these subsidiaries operate? Assume other comprehensive income applies to foreign currency translation.
4. On March 4, 1999, the Company announced a two-for-one forward stock split in the form of a 100 percent stock dividend. Prior to the announcement, the company’s stock price was $$89$ 3/8 per share. What was the target share price that the company achieved with the March 1999 forward stock split?
5. On March 4, 1998, Wal-Mart’s share price was $$48$ per share. Why did Wal-Mart split its stock in 1999?

6. How much would retained earnings change if Wal-Mart had declared a 20 percent stock dividend instead of a 100 percent stock dividend? The two-for-one stock split added 2,224 shares.

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