Need the weighted Average Cost of Capital. The question and requirement is on the spreadsheet.

Report: Balance Sheet Type: Full Report Company: Deltic Timber Corp. (Cusip: 247850100 Sic: 2421) 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Assets Cash and Cash Items Accts Receiv_Trade 5.43 2.76 4.37 7 9.09 7.33 Accts Receiv_Others Accounts Receivable 5.61 3.29 3.83 4.78 2.41 10.67 11.36 5.28 4.82 4.6 4.89 2.99 3.94 4.15 0.01 7 9.09 7.33 5.29 Accounts & Notes Receivable 4.6 4.89 2.99 3.94 4.15 0.1 0.09 0.06 0.16 0.77 4.82 4.7 4.97 3.05 4.1 4.92 3.94 3.99 3.59 7 9.09 7.33 Finished Goods 7.69 8.98 7.96 Raw Materials 2.59 1.16 2.05 2.26 1.8 1.02 Supplies 1.64 1.36 2.42 0.31 0.36 0.52 11.92 11.49 12.44 4.89 4.35 6.06 6.51 6.16 5.12 6.39 5.96 3.16 2.8 3.86 3.59 4.22 2.3 2.4 30.73 29.31 27.3 18.59 16.33 18.19 18.52 16.2 23.23 23.8 Total Inventories Prepaid Expenses 5.29 4.82 0 Notes Receivable Other Current Assets TOTAL CURRENT ASSETS Buildings 5.92 2.84 23.9 22.68 22.6 13.98 13.88 12.52 11.06 10.72 9.93 9.64 Land/Improvements 373.21 0.95 258.62 352.26 334.39 332.18 234.48 5.32 4.95 4.66 Machinery/Equipment 158.38 152.64 145.74 102.47 102.81 98.04 94.99 0.9 2.06 Other PPE PPE at Cost Accumulated Depreciation Property, Plant, and Equipment - Net Investments Goodwill & Intangibles Other Long Term Assets TOTAL ASSETS 372.57 95.23 90.18 87.49 210.04 208.43 207.64 555.5 548.84 426.96 469.62 453.14 442.74 340.53 321.3 313.49 309.43 -108.15 -110.27 -102.86 -202.74 -194.68 -184.1 -77.75 -72.61 -65.85 -60.87 447.35 438.57 324.09 266.88 258.46 258.65 262.78 248.69 247.64 248.56 58.42 56.14 57.95 63.74 65.41 64.83 70.08 68.75 55.51 51.27 0 0 0 0 0 0 0 0 0 0 2.66 3.25 2 4 1.68 1.61 0.83 1.09 2.36 0.63 539.17 527.27 411.34 353.21 341.87 343.27 352.2 334.73 328.74 324.27 8.84 6.81 8.2 1.98 1.87 2.4 2.82 1.73 2.66 3.88 8.84 6.81 8.2 1.98 1.87 2.4 2.82 1.73 2.66 3.88 8.84 6.81 8.2 1.98 1.87 2.4 2.82 1.73 2.66 3.88 1.11 1.11 1.11 1.11 3.33 Liabilities Accts Pay_Trade Creditors Accounts Payable Accounts and Notes Payable Current Portion of Long Term Debt 39.92 Accrued Liabilities 2.12 2.15 2.21 1.95 1.97 1.99 1.82 1.76 1.65 1.69 Deferred Revenues 7.61 7.22 10.33 9.09 7.76 10.16 6.98 6.78 6.93 5.51 0.01 0.36 0.02 1.37 58.48 16.19 21.82 13.03 12.71 15.67 13.1 11.39 15.95 183.84 203 90 63 64 65.61 91.22 76.35 67.87 70 0.52 1.1 7.51 0.47 1.21 5.34 5.45 4.76 6.8 4.18 Income Taxes Payable TOTAL CURRENT LIABILITIES Long Term Debt Deferred Income Taxes 1.08 11.09 Deferred Credits 0.52 1.1 7.51 0.47 1.21 5.34 5.45 4.76 6.8 4.18 Other Liabilities 42.36 39.34 25.74 44.48 36.83 26.64 26.13 29.07 20.04 31.52 TOTAL LIABILITIES 285.2 259.63 145.07 120.98 114.75 113.26 135.9 121.57 110.66 116.78 Stockholders' Equity Common Stock 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 87.82 86.58 84.8 82.6 80.84 79.08 78.29 78.66 76.64 74 Retained Earnings (Accumulated Deficit) 201.96 204.33 189.72 168.61 163.17 164.29 155.64 155.68 155.3 147.41 Treasury Stock -24.35 -11.98 -5.69 -5 -7.29 -10.76 -12.55 -14.4 -12.38 -8.93 Additional Paid-In Capital -11.59 -11.41 -2.68 -14.1 -9.73 -2.73 -5.21 -6.91 -1.59 -5.12 TOTAL STOCKHOLDERS EQUITY Accumulated Other Comprehensive Income (Loss) 253.97 267.64 266.27 232.23 227.12 230.01 216.3 213.16 218.09 207.48 TOTAL LIABILITIES AND EQUITY 539.17 527.27 411.34 353.21 341.87 343.27 352.2 334.73 328.74 324.27 Report: Cash Flow Type: Full Report Company: Deltic Timber Corp. (Cusip: 247850100 Sic: 2421) 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Operating CF NET INCOME (LOSS) Depreciation and Amortization (CF) Deferred Taxes 2.65 19.66 26.19 9.24 2.66 12.4 3.69 4.38 11.11 11.32 21.1 18.34 15.13 10.64 11.81 13.24 12.62 14.02 14.33 13.77 -0.92 -1.25 0.24 -0.65 1.11 -2.67 -0.34 0.78 1.08 -4.29 -1.08 -0.96 -0.32 -4.06 -2.22 -2.28 -1.68 -2.87 4.83 6.01 -4.22 4.64 1.61 3.73 2.37 6.13 8.95 12.57 25 23.1 10.06 18.65 22.68 19.19 -0.73 5.26 Equity in Net Earnings Other Non-Cash Items Total Non Cash Items 13.67 14.21 10.24 12.43 Change in Receivables 2.08 -0.47 -0.12 0.27 -1.92 Change in Inventories -0.42 -0.54 1.71 -0.14 0.59 0.42 0.04 -0.58 -0.43 1.1 Change in Payables Change in Prepaid Expenses -0.44 0.96 -0.24 -0.48 1.34 Change in Accrued Liabilities -0.03 -0.02 -0.02 0.16 0.07 Change in Deferred Revenues Change in Other Assets & Liabilities 2.49 -1.67 2.88 0.39 -0.9 1.3 -11.23 5.89 -1.28 -1.31 4 -0.76 -2.68 1.33 -4.82 3.37 29.66 31.53 42.14 24.08 14.64 28.9 16.91 21.68 28.24 39.15 -29.21 -134.17 -28.32 -21.13 -12.78 -11.96 -28.36 -29.27 -20.57 -27.62 -2.51 -2.19 -1.82 -1.81 -3.96 0.79 5.13 3.28 11.98 Other Operating CF Cash From OPERATING ACTIVITIES Investing CF Capital Expenditure Proceeds from Sales of PP&E Purchase of Assets Sale of Assets 0.27 -0.82 1.59 0.77 Proceeds from Sales/Maturity of Investments 0.56 Investment Purchased 5.34 1.18 0.19 -0.57 Proceeds from Sale of Business 6.17 Business Acquisition 3.95 -10.02 -4.65 -2.83 0.56 1.1 1.42 0.8 0.78 0.92 1.02 1.16 2.93 2 -27.88 -132.3 -33.79 -16.84 -11.11 -0.86 -25.77 -30.78 -21.02 -24.23 -108 -7 -14.76 -20.11 -18.2 -45.91 -8.11 -28.06 -19 -24.52 129 120 12 18 15.5 20.3 23.5 35 19 20 -15.27 -7.87 -2.22 -0.02 -0.06 -0.03 -1.11 -6.18 -4.9 1.2 0.25 0.76 1.16 2.46 0.59 1.03 3.39 1 2.45 Payment of Dividends -5.02 -5.06 -5.08 -3.8 -3.78 -3.75 -3.73 -3.73 -3.74 -3.72 Other Financing CF -1.02 -1.17 -0.28 -0.16 0 -0.19 -0.35 0.42 -0.26 0.6 Cash From FINANCING ACTIVITIES 0.89 99.16 -9.59 -4.92 -4.07 -28.99 11.23 0.84 -7.91 -5.19 NET CHANGE IN CASH & CASH EQUIVALENTS 2.67 -1.61 -1.24 2.32 -0.54 -0.95 2.37 -8.26 -0.69 9.72 Beginning Balance: Net Cash & Cash Equivalents 2.76 4.37 5.61 3.29 3.83 4.78 2.41 10.67 11.36 1.64 Ending Balance: Net Cash & Cash Equivalents 5.43 2.76 4.37 5.61 3.29 3.83 4.78 2.41 10.67 11.36 Other Investment CF Cash From INVESTING ACTIVITIES -5.17 3.88 Financing CF Debt Reduction Proceeds from Debt Issued Payments on Acquisition of Stock Proceeds from Sale of Stock Report: Income Statements Type: Full Report Company: Deltic Timber Corp. (Cusip: 247850100 Sic: 2421) 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Revenues TOTAL REVENUE 193.85 227.36 199.7 140.91 121.85 141.62 112.01 129.52 128.26 153.11 144.49 156.14 130.75 94.71 87.32 93.4 79.95 93.96 81.66 106.44 Expenses COGS General and Administrative Depreciation, Amortization, and Cost of Fee Business Interruption Insurance Claim Involuntary Conversion of Assets 18.47 18.48 19.04 18.43 15.26 17.07 13.58 14.04 15.38 14.17 21.1 18.34 15.13 10.64 11.81 13.24 12.62 14.02 14.33 13.77 -0.52 -0.7 -1.89 Involuntary Conversion -0.88 Other Expenses TOTAL COSTS AND EXPENSES OPERATING INCOME (LOSS) Interest Income Other Non-Operating Income (Expense) EBITDA Depreciation and Amortization (IS) EBIT Interest Expense EBT Income Tax Expense Income (Loss) Before Minority Interest -1.19 164.36 174.48 145 105.35 99.13 106.64 92.56 107.98 92.92 120.22 11.02 34.4 35.66 17.13 7.46 17.91 5.87 7.5 19.96 18.72 0 0 0.01 0.02 0.04 0.23 0.12 0.78 0.82 0.45 0.26 0.28 6.64 0.02 0 0.05 0.05 -0.01 0.34 1.47 32.38 53.03 57.45 27.81 19.31 31.43 18.66 22.3 35.46 34.42 21.1 18.34 15.13 10.64 11.81 13.24 12.62 14.02 14.33 13.77 11.28 34.68 42.32 17.17 7.5 18.2 6.04 8.27 21.13 20.65 7.53 5.43 4.58 4.09 4.03 3.53 3.5 5.18 4.37 5.42 3.75 29.26 37.74 13.08 3.47 14.67 2.54 3.1 16.76 15.23 1.1 9.59 12.63 4.8 1.13 6.33 1.07 0.99 7.33 6.78 2.65 19.66 25.11 8.28 2.34 8.34 1.47 2.11 9.43 8.45 1.08 0.96 0.32 4.06 2.22 2.28 1.68 2.87 Equity in Net Income of Affiliates Income (Loss) Before Effects of Accounting Chg. 2.65 19.66 26.19 9.24 2.66 12.4 3.69 4.38 11.11 11.32 Income (Loss) Before Discontinued Operations 2.65 19.66 26.19 9.24 2.66 12.4 3.69 4.38 11.11 11.32 NET INCOME 2.65 19.66 26.19 9.24 2.66 12.4 3.69 4.38 11.11 11.32 NET INCOME COMMON SHAREHOLDERS 2.65 19.66 26.19 9.24 2.66 12.4 3.69 4.38 11.11 11.32 Basic Shares 12.41 12.5 12.57 12.52 12.45 12.36 12.32 12.45 12.47 12.4 Diluted Shares Share Data 12.47 12.55 12.62 12.59 12.55 12.46 12.42 12.45 12.47 12.4 Basic EPS 0.21 1.56 2.06 0.73 0.21 0.99 0.3 0.35 0.89 0.91 Basic EPS Common Shares 0.21 1.56 2.06 0.73 0.21 0.99 0.3 0.35 0.89 0.91 Diluted EPS 0.21 1.55 2.05 0.73 0.21 0.99 0.3 0.35 0.89 0.89 Diluted EPS Common Shares 0.21 1.55 2.05 0.73 0.21 0.99 0.3 0.35 0.89 0.89 Using the Market, Value figure out the WACC for WallMArt. Market Risk Premium is 7%. Use 5 Year t-Bill Rates. Please show each work on how you find the Cost of Equity and the Cost of Debt and finally how you calculate the WACC. Wal-Mart Balance Sheet 2015 Assets Cash and Cash Items 8705 Accounts & Notes Receivable 5624 Total Inventories 44469 Prepaid Expenses 1441 Current Assets of Discontinued Operations TOTAL CURRENT ASSETS 60239 Buildings 96845 Land/Improvements 25624 Machinery/Equipment 49950 Construction in Progress 4539 Other PPE 11096 PPE at Cost 188054 Accumulated Depreciation -71538 Property, Plant, and Equipment - Net 116516 Goodwill 16695 Goodwill & Intangibles 16695 Other Long Term Assets 6131 TOTAL ASSETS 199581 Liabilities Accounts Payable 38487 Accounts and Notes Payable 38487 Short Term Debt 2708 Current Portion of Long Term Debt 3296 Accrued Liabilities 20128 Current Liabilities of Discontinued Operations TOTAL CURRENT LIABILITIES 64619 Long Term Debt 44030 Deferred Income Taxes 7321 Deferred Credits 7321 Other Liabilities TOTAL LIABILITIES 115970 Stockholders' Equity Noncontrolling Interest 3065 Common Stock 317 Additional Paid-In Capital 1805 Retained Earnings (Accumulated Defic 90021 Accumulated Other Comprehensive I -11597 TOTAL STOCKHOLDERS EQUITY 83611 TOTAL LIABILITIES AND EQUITY 199581 2014 9135 6778 45141 2224 63278 97496 26261 47851 5787 5239 182634 -65979 116655 18102 18102 5671 203706 38410 38410 1592 5097 20173 2013 7281 6677 44858 1909 460 61185 178678 -60771 117907 19510 19510 6149 204751 2012 7781 6768 43803 1588 59940 90686 25612 43699 5828 5899 171724 -55043 116681 20497 20497 5987 203105 2010 2009 2008 2007 2006 6550 5937 40714 1685 89 54975 84275 23499 41916 5312 5936 160938 -48614 112324 20651 20651 5456 193406 7395 5089 36318 2960 131 51893 79051 24386 40885 4262 5905 154489 -46611 107878 16763 16763 4129 180663 7907 4144 33160 2980 140 48331 77452 22591 37805 7275 3905 34511 3063 195 48949 73810 19852 32158 5569 3654 35180 3182 7373 2840 33685 2690 47585 72533 19879 30236 46588 64052 18612 27134 5669 143517 -41210 102307 16126 16126 3942 170706 5341 131161 -35508 95653 15260 15260 3567 163429 5736 128384 -31367 97017 16071 16071 2841 163514 5392 115190 -26750 88440 13759 13759 2406 151193 36608 36608 4047 2301 19318 26 62300 47079 7862 7862 33557 33557 1031 4991 18858 47 58484 43842 6682 6682 30451 30451 523 4396 20099 92 55561 36401 5508 5508 28849 28849 1506 6163 18789 83 55390 34549 6014 6014 30370 30370 28090 28090 11269 16815 8283 15381 58454 33402 5111 5111 51754 30735 4971 4971 117769 37415 37415 7670 4412 19759 89 69345 44559 8017 8017 1491 123412 71818 41417 7613 7613 519 121367 122091 112121 99957 98144 98906 89620 4543 323 2462 85777 -7168 85937 203706 5084 323 2362 76566 -2996 81339 204751 5395 332 3620 72978 -587 81738 203105 4850 342 3692 68691 -1410 71315 193406 3113 352 3577 63967 646 68542 180663 2487 4181 2191 393 3920 63660 -2688 65285 163429 1939 397 3028 57319 3864 64608 163514 2160 413 2834 55818 2508 61573 151193 65272 43692 8805 8805 38080 38080 6805 5914 21019 2011 66638 -70 70749 170706 Wal_Mart Cash Flow 2015 Operating CF NET INCOME (LOSS) 15080 Depreciation and Amortization (CF 9454 Deferred Taxes -672 Discontinued Operations (CF) Other Non-Cash Items 1410 Total Non Cash Items 10192 Change in Receivables -19 Change in Inventories -703 Change in Payables 2008 Change in Accrued Liabilities 831 NET CASH From CONTINUING OPERATIONS NET CASH From DISCONTINUED OPERATIONS Cash From OPERATING ACTIVITIES 27389 Investing CF CF fr Discontinued Oper - Investing Capital Expenditure -11477 Proceeds from Sales of PP&E 635 Purchase of Assets Sale of Assets 246 Proceeds from Sales/Maturity of Investments Investment Purchased Other Investment CF -79 Cash From INVESTING ACTIVITIES -10675 Financing CF Debt Reduction -4432 Proceeds from Debt Issued 1274 Payments on Acquisition of Stock -5438 Proceeds from Sale of Stock Payment of Dividends -6294 Payment of Dividends - Minority/Pref -719 Other Financing CF -513 Cash From FINANCING ACTIVITIES -16122 Effect of Exchange Rates -1022 NET CHANGE IN CASH & CASH EQUIV -430 Beginning Balance: Net Cash & Cash E 9135 Ending Balance: Net Cash & Cash Equi 8705 2014 2013 2012 17099 9173 -503 -285 785 9170 -569 -1229 2678 1415 16695 8870 -279 -144 938 9385 -566 -1667 531 -1121 17756 8501 -133 28564 -12174 570 2011 2010 2009 2008 2007 527 8895 -614 -2759 1061 1252 16387 8130 1050 67 398 9645 -796 -3727 2687 59 16993 7641 651 -1034 1087 8345 -733 -3086 2557 -433 14848 7157 -504 79 301 7033 -297 2265 1052 1348 13400 6739 581 -146 1268 8442 -101 -220 -410 2036 12731 6317 -8 153 601 7063 -564 -775 865 1034 23257 25591 24255 23643 26249 23147 20354 -13115 727 -12898 532 -13510 580 -12699 489 -12184 1002 -11499 714 -14937 957 -257 -1338 -95 -15670 -68 223 -14463 671 -192 -11125 -10192 5174 -2859 0 -6185 -600 -409 -15071 -514 1854 7281 9135 2006 11284 5459 89 894 1039 7481 -214 -1274 2344 588 20209 -45 20164 44 -15666 394 610 -15 105 -12298 -316 71 -12611 -3548 -131 -16609 -202 219 -12193 -438 -11620 838 -1576 781 -10742 -4968 7983 -6683 -1478 2965 -7600 -4939 8069 -6298 -4443 11899 -14776 -7066 5546 -7622 -9484 6566 -3521 -9066 13543 -7691 -7291 7199 -1718 -6139 -722 -488 -11017 -442 -500 7781 7281 -5361 -5048 -4437 -4217 -3746 -3586 -2802 -498 -11972 223 1231 6550 7781 -242 -8458 -33 -845 7395 6550 -271 -12028 66 -512 7907 7395 -832 -14191 194 632 7275 7907 267 -9918 -781 1706 5569 7275 -334 -7134 252 -2198 7767 5569 -227 -4839 97 959 6414 7373 Wal-Mart Income Statements 2015 Revenues Sales Membership Other Revenues TOTAL REVENUE Expenses COGS Operating,Selling,General and Admini TOTAL COSTS AND EXPENSES OPERATING INCOME (LOSS) Interest Income EBITDA EBIT Interest Expense EBT Income Tax Expense Income (Loss) Before Minority Interest Non-controlling Interest (IS) Income (Loss) Before Effects of Accou Income (Loss) Before Discontinued Op Discontinued Operations (IS) NET INCOME NET INCOME COMMON SHAREHOLDE Share Data Basic Shares Diluted Shares Basic EPS Basic EPS Common Shares Diluted EPS Diluted EPS Common Shares 2014 2013 2012 2011 2010 478614 3516 482229 3422 473076 3218 466114 3048 443854 3096 418952 2897 482130 485651 476294 469162 446950 421849 360984 97041 360984 24105 81 33640 24186 2548 21638 6558 15080 -386 14694 14694 365086 93418 365086 27147 358069 91353 358069 26872 15080 14694 36320 27147 2348 24799 7985 16814 -736 16078 16078 285 17099 16363 35742 26872 2216 24656 8105 16551 -673 15878 15878 144 16695 16022 352488 88873 352488 27801 187 36489 27988 2251 25737 7981 17756 -757 16999 16999 17756 16999 335127 85265 335127 26558 162 34850 26720 2322 24398 7944 16454 -688 15766 15766 -67 15699 15699 3207 3217 1.48 4.58 1.48 4.57 3230 3243 1.61 5.07 1.6 5.05 3269 3283 1.42 4.9 1.42 4.88 3374 3389 1.79 5.04 1.78 5.02 3460 3474 4.54 4.54 4.52 4.52 2009 2008 2007 2006 401244 4363 374526 4273 344992 408214 405607 378799 3658 348650 315287 81020 315287 25542 201 33384 25743 2205 23538 7579 15959 -604 15355 15355 1034 16389 16389 304657 79607 304657 23950 181 31288 24131 2065 22066 7139 14927 -513 14414 14414 -79 14335 14335 306158 76651 306158 22798 284 29821 23082 2184 20898 7145 13753 -499 13254 13254 146 13400 13400 286515 70288 286515 21996 305 28618 22301 2103 20198 6908 13290 -406 12884 12884 -153 12731 12731 264152 64001 264152 20497 280 26236 20777 1809 18968 6365 12603 -425 12178 12178 -894 11284 11284 3656 3670 4.48 4.48 4.47 4.47 3866 3877 3.71 3.71 3.7 3.7 3939 3951 3.4 3.4 3.39 3.39 4066 4072 3.13 3.13 3.13 3.13 4164 4168 2.71 2.71 2.71 2.71