Amazon.com, Inc.s fnancial statements are presented in Appendix D.

Click here to view Appendix D.

Financial statements of Wal-Mart Stores, Inc. are presented in Appendix E.

Click here to view Appendix E.

Instructions for accessing and using the complete annual reports of Amazon and Wal-Mart, including the notes to the financial statements, are also provided in Appendices D and E, respectively.

(a)

Based on the information contained in these financial statements, determine the following for Amazon at December 31, 2015, and Wal-Mart at January 31, 2016. (Enter the amounts in millions.)

Amazon Wal-Mart

1. Total current assets. $ $

2. Net amount of property and equipment (fixed assets), net. $ $

3. Total current liabilities. $ $

4. Total equity. $ $

Specimen Financial Statements: Wal-Mart Stores, Inc.

The following are Wal-Mart Stores, Inc.'s financial statements as presented in the company's 2016 annual report. The complete annual report, including notes to the financial statements, is available at the company's website.

Specimen Financial Statements: Amazon.com, Inc.

Amazon.com, Inc. is the world's largest online retailer. It also produces consumer electronicsnotably the Kindle e-book reader and the Kindle Fire Tablet computerand is a major provider of cloud computing services. The following are Amazon's financial statements as presented in the company's 2015 annual report. The complete annual report, including notes to the financial statements, is available at the company's website.

Consolidated Statements of Cash Flows Fiscal Years Ended January 31 2016 2015 2014 $ 15,080 $ 17.099 (285) 16,814 $ 16,695 (144 16551 15,080 9,454 (672) 1,410 9.173 1503 8,870 (279) 938 785 (19) (703) 2,008 1,303 (472) (569) (1.229) 2,678 1.249 166 28564 (566) (1,667 531 103 (1.224 23,257 27,389 Amounts in milions Cash flows from operating activities: Consolidated net income Income from discontinued operations net of income taxes Income from continuing operations Adjustments to reconcile income from continuing operations to net cash provided by operating activities: Depreciation and amortization Deferred income taxes Other operating activities Changes in certain assets and liabilities, net of effects of acquisitions Receivables, net Inventories Accounts payable Accrued liabilities Accrued income taxes Net cash provided by operating activities Cash flows from investing activities; Payments for property and equipment Proceeds from disposal of property and equipment Proceeds from disposal of certain operations Other investing activities Net cash used in investing activities Cash flows from financing activities: Net change in short-term borrowings Proceeds from issuance of long-term debt Payments of long-term debe Dividends paid Purchase of Company stock Dividends paid to noncontrolling interest Purchase of noncontrolling interest Other financing activities Net cash used in financing activities Effect of exchange rates on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of period (11,477) 635 246 (13,115) 727 (12.174 570 671 (192) (11,125) (79) (138) (12,526) (10,675) 1,235 39 14.432) (6,294) (4,112) (719) (1,326) (513) (6.288) 5174 13,904 (6,185) (1,015) (600) (1,844) (409) (15,071) 911 7,072 (4,968) (6,139) (6,683) (426) (296) (260) (10,789) (16,122) (1,022) (430) 9,135 $ 8,705 (514) 1,854 7.281 $ 9,135 (500) 7.781 5.7.281 Supplemental disclosure of cash flow information: Income taxes paid Interest paid 8,111 2,540 8169 2,433 8,641 2362 mpanying notes Consolidated Statements of Shareholders' Equity and Redeemable Noncontrolling Interest Nonredeemable Noncontrolling Interest $ 5,395 595 Total Equity $ 81,738 16,617 Redeemable Noncontrolling Interest $ 519 78 - - (311) (2,720) (66) (6,139) (6557) 41) (595) 5,084 736 (1,019) (581) 81,339 17,099 1,019 (59) 1.491 - | - - (546) (4,718) 1 - Accumulated Total Capital in Other Walmart Common Stock Excess of Retained Comprehensive Shareholders Amounts in Millions) Shares Amount Par Value Earnings Income (1.05 Equity Balances as of February 1, 2013 3314 $332 $3,620 $72,978 $ (587) $ 76,343 Consolidated net income 16,022 16,022 Other comprehensive income, net of income taxes (2409) (2,409) Cash dividends declared (51.88 per share) (6,139) (6,139) Purchase of Company stock (87) 19) (294) (6,254) (6,557) Redemption value adjustment of redeemable noncontrolling interest (1.019) (1,019) Other 6 55 14 Balances as of January 31, 2014 3,233 323 2,362 76,566 (2,996) 76,255 Consolidated net income 16,363 16,363 Other comprehensive loss, net of income taxes (4.172) (4.172) Cash dividends declared ($1.92 per share) (6185) (6,185) Purchase of Company stock (29) (950) (980) Purchase of redeemable noncontrolling interest Other 8 1 129 113 Balances as of January 31, 2015 3,228 323 2,462 85,777 (7.168) 81,394 Consolidated net income 14,694 14,694 Other comprehensive income, net of income taxes (4,429) (4,429) Cash dividends declared ($1.96 per share) 16,294) (6,294) Purchase of Company stock (65) (6) (102) (4,148) (4,256) Cash dividend declared to noncontrolling interest Other (1) (555) (8) (563) Balances as of January 31, 2016 3,162 $317 $1,805 $90,021 $(11,597) $80,546 See accompanying notes (13) (6,185) (980) (1491) (17) (731) 4,543 386 (618) 85,937 15,080 1 - 1 - (541) (4.970) (6,294) (4,256) (691) (632) $3,065 (691) (1,195) $83,611 $ Consolidated Balance Sheets Fiscal Year Ended January 31, 2016 2015 $ 8,705 5.624 44,469 1.441 60,239 $ 9,135 6,778 45,141 2224 63,278 Amounts in milions ASSETS Current assets: Cash and cash equivalents Receivables.net Inventories Prepaid expenses and other Total current assets Property and equipment: Property and equipment Less accumulated depreciation Property and equipment net Property under capital lease and financing obligations: Property under capital lease and financing obligations Less accumulated amortization Property under capital lease and financing obligations, net Goodwill Other assets and deferred charges Total assets 176,958 (66,787 110,171 177395 (63,115) 114280 11,096 14.751) 6,345 16,695 6,131 $199,581 5239 (2,864) 2375 18102 5,455 $203.490 $ 2,708 38,487 19,607 521 $ 1,592 38410 19,152 1,021 4,791 287 65,253 2,745 551 64619 38,214 5,816 7,321 40,889 2,606 8,805 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debe due within one year Capital lease and financing obligations due within one year Total current liabilities Long-term debt Long-term capital lease and financing obligations Deferred income taxes and other Commitments and contingendes Equity Common stock Capital in excess of par value Retained earnings Accumulated other comprehensive income joss) Total Walmart shareholders equity Nonredeemable noncontrolling interest Total equity Total liabilities and equity See accompanying notes 317 1,805 90,021 (11,597 80,546 3,065 83,611 $199,581 323 2,462 85,777 17,168 81,394 4543 85,937 $203,490 Consolidated Statements of Comprehensive Income Fiscal Years Ended January 31, 2016 2015 2014 $15,080 $17,099 $16,695 (386) (736) (606) (67) 14,694 16,363 16,022 (Amounts in milions) Consolidated net income Less consolidated net income attributable to nonredeemable noncontrolling interest Less consolidated net income attributable to redeemable noncontrolling interest Consolidated net income attributable to Walmart Other comprehensive income (loss), net of income taxes Currency translation and other Net investment hedges Cash flow hedges Minimum pension liability Other comprehensive income (loss), net of income taxes Less other comprehensive income (loss) attributable to nonredeemable noncontrolling interest Less other comprehensive income (loss) attributable to redeemable noncontrolling interest Other comprehensive income (loss) attributable to Walmart Comprehensive income, net of income taxes Less comprehensive income (loss) attributable to nonredeemable noncontrolling interest Less comprehensive income (loss) attributable to redeemable noncontrolling interest Comprehensive income attributable to Walmart See accompanying notes (5,220) 366 (202) 86 (4,970) 541 (4,558) 379 (470) (69) (4,718) 546 (3,221) 75 207 153 (2,786) 311 66 (4,429) 10,110 155 (4.172) 12.381 (190) (2,409) 13,909 (295) $10,265 $12,191 $13,613 Consolidated Statements of Income Fiscal Years Ended January 31, 2016 2015 2014 $478,614 3,516 482,130 5482229 3,422 485,651 $473,076 3218 476294 360,984 97,041 24,105 365,086 93,418 27.147 358,069 91,353 26872 2,027 521 (81) 2,467 21,638 2,161 300 (113) 2348 24799 2072 263 (119) 2216 24656 (Amounts in millions excent per share data) Revenues: Net sales Membership and other income Total revenues Costs and expenses: Cost of sales Operating, seling, general and administrative expenses Operating income Interest: Debt Capital lease and financing obligations Interest income Interest, net Income from continuing operations before income taxes Provision for income taxes: Current Deferred Total provision for income taxes Income from continuing operations Income from discontinued operations, net of income taxes Consolidated net income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart Basic net income per common share: Basic income per common share from continuing operations attributable to Walmart Basic income per common share from discontinued operations attributable to Walmart Basic net income per common share attributable to Walmart Diluted net income per common share: Diluted income per common share from continuing operations attributable to Walmart Diluted income per common share from discontinued operations attributable to Walmart Diluted net income per common share attributable to Walmart Weighted average common shares outstanding: Basic Diluted Dividends declared per common share See accompanying notes 7,584 (1,026) 6,558 15,080 8,504 (519) 7,985 16,814 285 17,099 736) $ 16363 8.619 1514) 8.105 16.551 144 16,695 (673 $ 16.022 15,080 (386) $ 14,694 $ 4.58 $ 5.01 0.06 $ 487 003 $ 4.58 S 5.07 $ 490 $ 4.57 $ S 4.99 0.06 485 0.03 $ 4.57 505 S488 3,207 3,217 1.96 3230 3,243 192 3269 3.283 1.88 S S S AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (in millions) Common Stock Accumulated Additional Other Total Treasury Paid In Comprehensive Retained Stockholders Shares Amount Stock Capital Income (Loss) Earnings Equity 454 $ 5 $ (1,837) $ 8,347 $ (239) $ 1916 $ 8,192 274 274 54 54 S 4 4 73 73 1,149 9,573 459 (1,837) (185) 2,190 (241) 1,149 9,746 (241) (326) 2 (326) 6 - 6 6 Balance as of January 1, 2013 Net income Other comprehensive income (loss) Exercise of common stock options Excess tax benefits from stock-based compensation Stock-based compensation and issuance of employee benefit plan stock Balance as of December 31, 2013 Net loss Other comprehensive income (loss) Exercise of common stock options Excess tax benefits from stock-based compensation Stock-based compensation and issuance of employee benefit plan stock Issuance of common stock for acquisition activity Balance as of December 31, 2014 Net income Other comprehensive income (loss) Exercise of common stock options Excess tax benefits from stock-based compensation Stock-based compensation and issuance of employee benefit plan stock Issuance of common stock for acquisition activity Balance as of December 31, 2015 1,510 1,510 44 44 11,135 465 5 (1,837) (511) 1.949 596 10,741 596 (212) 4 (212) 6 4 119 119 2,131 2,131 5 471 $ 5 5 $ (1,837) $ 13,394 $ (723) $ 2,545 $ 13,384 See accompanying notes to consolidated financial statements. ZON.COM CONSOLIDATED BALANCE SHEETS (in millions, except per share data) December 31, 2013 2014 $ 15,890 $ 3,918 10,243 6,423 36,474 21.838 3.759 3.373 65,444 $ 14,557 2.859 8,299 5.612 31.327 16.967 3,319 2.892 54,505 $ $ ASSETS Current assets: Cash and cash equivalents Marketable securities Inventories Accounts receivable net and other Total current assets Property and equipment, net Goodwill Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable Accrued expenses and other Uneamed revenue Total current liabilities Long-term debt Other long-term liabilities Commitments and contingencies (Note 7) Stockholders' equity Preferred stock, $0.01 par value: Authorized shares - 500 Issued and outstanding shares - none Common stock, $0.01 par value Authorized shares - 5,000 Issued shares - 494 and 488 Outstanding shares - 471 and 465 Treasury stock, at cost Additional paid-in capital Accumulated other comprehensive loss Retained earnings Total stockholders' equity Total liabilities and stockholders' equity See accompanying notes to consolidated financial statements, 20,397 $ 10,384 3,118 33,899 8,235 9.926 16,459 9,807 1.823 28089 8,265 7,410 5 (1,837) 13,394 (723) 2,545 13,384 65,444 $ S (1.837) 11,135 (511) 1.949 10,741 54,505 MAZON.COM, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in millions) 2015 Year Ended December 31, 2014 596 $ (241) $ 2013 274 (210) (325) 63 Net income (loss) Other comprehensive income (loss): Foreign currency translation adjustments, net of tax of $10, $(3), and $(20) Net change in unrealized gains (losses) on available-for-sale securities: Unrealized gains (losses), net of tax of $(5), $1, and $3 Reclassification adjustment for losses (gains) included in "Other income (expense), net," net of tax of $0, $(1), and $(1) Net unrealized gains (losses) on available-for-sale securities Total other comprehensive income (loss) Comprehensive income (loss) $ (7) 2 (10) 1 (2) (212) 384 $ (3) (1) (326) (567) $ (9) 54 328 See accompanying notes to consolidated financial statements. AMAZON.COM, NC. CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) Year Ended December 31, 2015 2014 79.268 $ 70.080 $ 27,738 18.908 107.006 88.988 2013 60.903 13,549 74,452 54,181 8,585 3,133 Net product sales Net service sales Total net sales Operating expenses (1): Cost of sales Fulfillment Marketing Technology and content General and administrative Other operating expense (income), net Total operating expenses Income from operations Interest income Interest expense Other income (expense), net Total non-operating income (expense) Income (loss) before income taxes Provision for income taxes Equity-method investment activity, net of tax Net income (loss) Basic earnings per share Diluted earnings per share Weighted average shares used in computation of eamings per share: Basic Diluted 71,651 13,410 5.254 12,540 1.747 171 104,773 2.233 50 (459) (256) (665) 1.568 (950) (22) 596 $ 1.28 $ 1.25 $ 62.752 10,766 4,332 9.275 1,552 133 88,810 178 39 (210) (118) (289) (111) (167) 37 (241) $ (0.52) $ (0.52) $ 6,565 1.129 114 73,707 745 38 (141) (136) (239) 506 (161) (71) 274 0.60 0.59 467 477 462 462 457 465 482 $ 294 (1) Includes stock-based compensation as follows: Fulfillment Marketing Technology and content General and administrative 375 $ 125 190 804 1.224 223 88 603 149 193 See accompanying notes to consolidated financial statements. 2013 78 394 AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) Year Ended December 31, 2015 2014 (continued) FINANCING ACTIVITIES: Excess tax benefits from stock-based compensation 119 Proceeds from long-term debt and other 353 6,359 Repayments of long-term debt and other (1,652) (513) Principal repayments of capital lease obligations (2.462) (1,285) Principal repayments of finance lease obligations (121) (135) Net cash provided by (used in) financing activities (3,763) 4.432 Foreign-currency effect on cash and cash equivalents (374) (310) Net increase decrease) in cash and cash equivalents 1,333 5,899 CASH AND CASH EQUIVALENTS, END OF PERIOD 15,890 $ 14,557 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest on long-term debt 325 $ 91 $ Cash paid for interest on capital and finance lease obligations 153 86 Cash paid for income taxes (net of refunds) 273 177 Property and equipment acquired under capital leases 4,717 4.008 Property and equipment acquired under build-to-suit leases 544 920 (231) (775) (5) (539) (86) 574 8,658 97 41 169 1,867 877 See accompanying notes to consolidated financial statements. 2013 8,084 274 3.253 1.134 114 1 AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) Year Ended December 31, 2015 2014 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD $ 14,557 5 8,658 5 OPERATING ACTIVITIES: Net income (loss) 596 (241) Adjustments to reconcile net income (loss) to net cash from operating activities: Depreciation of property and equipment, including internal-use software and website development, and other amortization, including capitalized content costs 6,281 4,746 Stock-based compensation 2.119 1.497 Other operating expense (income), net 155 129 Losses (gains) on sales of marketable securities, net 5 (3) Other expense (income), net 245 62 Deferred income taxes 81 (316) Excess tax benefits from stock-based compensation (119) (6) Changes in operating assets and liabilities: Inventories (2,187) (1.193) Accounts receivable, net and other (1.755) (1,039) Accounts payable 4,294 1,759 Accrued expenses and other 913 706 Additions to unearned revenue 7.401 4.433 Amortization of previously unearned revenue (6,109) (3,692) Net cash provided by (used in) operating activities 11,920 6,842 INVESTING ACTIVITIES: Purchases of property and equipment, including internal-use software and website development, net (4,589) (4,893) Acquisitions, net of cash acquired, and other (795) (979) Sales and maturities of marketable securities 3,025 3,349 Purchases of marketable securities (4,091) (2.542) Net cash provided by (used in) investing activities (6.450) (5,065) 166 (156) (78) (1,410) (846) 1,888 736 2.691 (2,292) 5,475 (3.444) (312) 2,306 (2.826) (4,276