Part II: Free-Cash-Flow and Ratio Analysis To be completed in Excel

1.) Showing all steps in detail using Excel, please calculate the most recent annual free-cash-flow (ex: as of most recent year-end) for Walmart. Details on how to calculate FCF can be found starting on page 80 in your textbook and from examples completed in class. (15 points

2.) Using financial ratios from all five categories (beginning on page 107 in the textbook), using Excel please calculate ratios and use those ratios to analyze Walmarts financial strengths and weaknesses. At a minimum, analyze, and calculate ratios for three years of data and comment on the trend (improving, declining, stable). If the trend is notable, dig deeper to determine the reason behind the results. Since we cannot contact the CFO to ask questions, including the questions you would ask if given the chance. Although not necessary, if you are able to find a few industry benchmarks or close competitor ratio results for comparison purposes, please do so. REQUIRED! Please include a link or screenshot of financial statements used to prepare calculations. This could be from yahoo.finance, the firms annual report, or other reliable sources. (40 points)

Example:Ratio: Year Ending 12-31-17 Year Ending 12-31-18 Year Ending 12-31-19Industry (if available)Trending CommentsCurrent Ratio1.201.251.321.20Liquidity measured by CR has improved from 1.20 to 1.32 over the past three years and exceeds the industry average.

the textbook is Brigham, Eugene, and Houston, Joel. Fundamentals of Financial Management concise edition,10th ed., Boston: Cengage, 2020. ISBN: 978-1-337-90257-1

TIP: Remember business writing is succinct and often does not reflect complete sentences. For example: If I wanted to relay a negative trend in profitability I may craft it like this:Annual 2018 net profit margin dropped 120 bps to 3.0% reflecting the higher cost of goods sold fueled by new China tariffs. Over one-half of the 25% increase in tariffs was passed along to the consumer, with ABC absorbing the remainder. TIP: Not all ratios will apply to all firms. Choose at least one ratio from each category to assess performance.