https://www.sec.gov/Archives/edgar/data/104169/000010416916000079/wmtform10-kx1312016.htm

1)How much of Walmarts revenue is obtained from outside the U.S.? If possible please indicate the 3 or 4 countries of the world from which Walmart earns its non-U.S. revenue. (Note: you may have to do some digging or calculations here). Provide estimates (even rough estimates) of specific percentages that the 3 or 4 major countries contributed to Walmarts total revenue and net income (you may have to make some assumptions here). Considering your findings to these questions, where does Walmart expect to obtain most of its revenue and income growth, the U.S or overseas? Which country might account for Walmarts future international growth (show your reasoning or calculations here). For all information, please provide the page of the report and footnote # where you found this information.

2)As you well know by now, for much of the last years, the dollar has rising against most major currencies. Does Walmart indicate in its annual report the impact of this activity on its revenue and net income. (Yes this question was asked in general terms Part A to this Question Set, but I must now ask it in more specific terms). If the company does not indicate the impact of exchange rate fluctuations on its results, might this indicate something about the companys overseas stores (do they operate locally or as extensions of Walmart U.S.)?

3)Regarding financial statements restatement method, did Walmart use translation and/or, remeasurement to restate its subsidiaries financial statements. Where in the financial statements did you find the answer. What amount of foreign currency adjustments passed through income and/or equity? Once again, please indicate the place in the financial statements where you found the information. (Note, I consider this question important!!!). Finally, assuming that the companys restatement method is justified, does the choice of method indicate something about the companys overseas stores (do they operate locally or as extensions of Walmart U.S.)? (Gee same question as in 2 above).

4) Calculate Walmarts return on assets and return on shareholders equity for 2014 and 2015 including and excluding foreign exchange adjustments for these years. Did these adjustments have a significant impact on these ratios? (i.e. calculate the ratios with and without the adjustments and indicate if the difference seems material). To keep things simple here, for ROA, use the simple formula ROA=net income/total assets. For RSE use the formula RSE = net income/shareholders equity.