LkiS. How would this affect cash? Be specitic Des are 8-61 and 8-63.) The 2011 annual report of Wal-Mart, a major retailing company ation, Income Taxes, and Cash Flow oh was doubled under 31. Ahernates are 8 lerbe following property and equipment (S in millions): the g company,OBJECTIVE Property and equipment, at cost Less: Accumulated depreciation Property and equipment, net $148,584 ul $105,098 The cash balance The cash balance was $7.395 million. Depreciation expense during the year was $7.641 million. condensed income statement follows (S in millions): Revenues $421,849 Operating income $ 25.542 ng ed pt 0. For purposes of this problem, assume that all revenues and expenses, excluding depreciation, are for cash. Thus, cash operating expenses in millions of dollars were ($396,307-$7.641)-$388,666 cash. Thus, cash operating expenses in millions of dollars were (S396307-$7,641- Table for Problem 8-62 $ amounts in millions) e, 1. Zero Income Taxes 2.40% Income Taxes Straight-Line Accelerated Straight-Lline Accelerated Revenues (all cash) Cash operating expenses Cash provided by operations before income taxes Depreciation expense Pretax income Income tax expense Net income Supplementary analysis Cash provided by operations $ before income taxes Income tax payments Net cash provided by operations $ that depreciation would have been $9,641 million. Assume zero income taxes. Fill in the first two columns of blanks in the accompanying table (S in millions). Fill in the last two columns of blanks in the table above. Assume an income tax rate of 40%. Assume also that Wal and to income tax authorities. I. Wal-Mart uses straight-line depreciation. If accelerated depreciation had been used, assume I-Mart uses the same depreciation method for reporting to shareholders vide cash? Explain as omp answers to requirements I and 2. Does precisely as possible. 3. Compare your a your answers to requirements 1 and 2. Does depreciation pr