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The following table gives abbreviated balance sheets and income statements for Walmart. Balance Sheet (figures in $ millions) End of Year Start of Year
The following table gives abbreviated balance sheets and income statements for Walmart. Balance Sheet (figures in $ millions) End of Year Start of Year Assets Current assets: Cash and marketable securities Accounts receivable Inventories Other current assets Total current assets Fixed assets: Net fixed assets Other long-term assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt $ 6,946 $ 7,057 5,804 6,025 43,973 43,236 2,131 3,701 $ 58,449 $ 60,424 $115,008 30,230 $205,662 $ 46,282 32,619 $ 78,901 37,015 11,497 $114,368 27,148 $199,965 $ 41,623 25,685 $ 67,308 42,208 12,271 Other long-term liabilities Total liabilities $127,413 $121,787 Total shareholders' equity 78,249 78,178 Total liabilities and shareholders' equity $205,662 $199,965 Income Statement (figures in $ millions) Net sales $500,533 $486,063 Cost of goods sold 373,586 361,446 Selling, general, and administrative expenses Depreciation 96,171 10,719 91,963 10,270 Earnings before interest and taxes (EBIT) Interest expense $ 20,057 Taxable income Tax Net income Dividends Addition to retained earnings 2,368 $ 17,689 4,600 $ 13,089 6,314 $ 6,775 $ 22,384 2,457 $ 19,927 6,974 $ 12,953 6,885 $ 6,068 Assume a tax rate of 35%. Calculate the following using balance-sheet figures from the start of the year and Income statement figures from the end of the year: a. Calculate the return on assets. (Enter your answer as a percent rounded to 2 decimal places.) b. Calculate the operating profit margin. (Enter your answer as a percent rounded to 2 decimal places.) c. Calculate the sales-to-assets ratio. (Round your answer to 2 decimal places.) d. Calculate the inventory turnover. (Round your answer to 2 decimal places.) e. Calculate the debt-equity ratio. (Round your answer to 4 decimal places.) f. Calculate the current ratio. (Round your answer to 3 decimal places.) g. Calculate the quick ratio. (Round your answer to 4 decimal places.) a. Return on assets b. Operating profit margin c. Sales-to-assets ratio d. Inventory turnover % % e Debt-equity ratio f Current ratio g Quick ratio
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