Please answer the following question(s): Walmart Inc. is the world's largest retailer. A large portion of the premises that the company occupies are leased. Its financial statements and disclosure notes revealed the following information: Balance Sheet ($ in millions) 2017 2016 Assets Property: $ 11,096 Property under finance lease obligations $ 11,637 Less: Accumulated amortization (5,169) (4,751) Liabilities Current liabilities: 565 551 year Finance lease obligations due within one Long-term debt: 6,003 5,816 Long-term finance lease obligations Required: 1. The net asset "property under finance lease obligations" has a 2017 balance of $6,468 million ($11,637 - $5,169). Liabilities for these leases total $6,568 (5565 + $6,003). Why do the asset and liability amounts differ? 2. Prepare a 2017 summary entry to record Walmart's lease payments, which were $800 million. 3. What is the approximate average interest rate on Walmart's finance leases? Explain what an average interest rate is and why it is important to Walmart. 1 Unread Search entries or author