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5. Predicting net income. Below are abbreviated income statements for Walmart. Predict the net income for the period ending January 31, 2017, by determining the

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5. Predicting net income. Below are abbreviated income statements for Walmart. Predict the net income for the period ending January 31, 2017, by determining the growth rates of sales, COGS, SG&A, and interest expense. Use a tax rate of 37%. Walmart Inc. Abbreviated Income Statements for the Years Ending January 31, 2014-2016 ($ in millions) 1/31/2017 Account 1/31/2014 1/31/2015 $482,130 1/31/2016 $485,873 Sales $485,651 $365,086 $360,984 $361,256 Cost of goods sold SG&A + Other $ 93,756 $ 97,346 $102,403 EBIT $ 26,809 $ 23,800 $ 22,214 Interest expense $ 2,641 $ 2,548 $ 2,367 Taxes $ 7,985 $ 6,558 $ 6,204 Net income $ 16,363 $14,694 $13,643

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