7 The following table gives abbreviated balance sheets and income statements for Walmart. At the end of fiscal 2017, Walmart had 3,010 million shares outstanding with a share price of $126. The company's weighted average cost of capital was about 5% Assume a tax rate of 35% Save & Exit Submit Check my work Balance Sheet (figures in saillions End of Start of Year Year Assets Current assets: Cash and marketable securities Accounts receivable Inventories Other current assets. Total current assets Fixed assets: Net fixed assets $6,856 5,714 $ 6,967 5,935 43,083 43,146 3,611 2,041 Other long-term assets Total assets $114,918 30,140 $205,122 $114,270 27,058 $199,425 Liabilities and Shareholders' Equity Current Liabilities: Accounts payable Other current Liabilities Total current Liabilities Long-term debt Other long-term liabilities Total liabilities Total shareholders equity Total liabilities and shareholders' equity Net sales 346,192 32,529 $78,721 36,925 11,407 $127,053 78,069 $265,122 $500,443 Income Statenent figures in 5 millions) Cost of goods sold) Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Taxable incone Tax Tax Net Incone Dividends Addition to retained earnings 373,496 96,081 10.629 5.41,533 25,595 $67,128 42,118 17,181 $121,427 77,998 $199,425 $485,973 361,356 91,873 10,180 2014$ 22,564 $175959 4,600 $ 13,359 6,224 57,135 2,367 7,069 6,295 Dividends Addition to retained earnings $ 13,359 6,224 $ 7,135 $ 13,128 6,795 $ 6,333 a. Calculate the market value added. (Do not round intermediate calculations. Enter your answer in millions rounded to nearest whole number.) b. Calculate the market-to-book ratio. (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. Calculate the economic value added. (Do not round intermediate calculations. Enter your answer in millions rounded to nearest whole number.) d. Calculate the return on start-of-the-year capital. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) a. Market value added million b. Market-to-book ratio c. Economic value added milion d. Return on capital % < Prev 4 of 5 Next > million shares outstanding with a share price of $126. The company's weighted-average cost of capital was about 5%. Assume a tax rate of 35%. Balance Sheet (figures in 5 millions) End of Start of Year Year Assets Current assets: Cash and marketable securities $ 6,856 $ 6,967 5,714 5,935 43,883 3,611 $60,064 Accounts receivable Inventories Other current assets Total current assets Fixed assets: Net fixed assets Other long-term assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt $114,918 30,140 $205,122 $ 46,192 32,529 43,146 2,041 $ 58,089 $114,278 27,058 $199,425 $ 41,533 25,595 $ 67,128 42,118 12,181 $121,427 $ 78,721 36,925 Other long-term Liabilities 11,407 Total liabilities $127,053 Total shareholders' equity. 78,069 77,998 Total liabilities and shareholders' equity $205,122 $199,425 Income Statement (figures in millions) Net sales $500,443 $485,973 Cost of goods sold 373,496 361,356 96,081 Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Taxable income Tax Net income Dividends Addition to retained earnings 10,629 $ 20,237 2,278 $ 17,959 4,600 $ 13,359 6,224 $ 7,135 91,873 10, 180 $ 22,564 2,367 $20,197 7,069 $ 13,128 6,795 $ 6,333 - ty H