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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 Assets

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 $ 6,846 $ 6,957
Accounts receivable 5,704 5,925
Inventories 43,873 43,136
Other current assets 3,601 2,031
Total current assets $ 60,024 $ 58,049
Fixed assets:
Net fixed assets $ 114,908 $ 114,268
Other long-term assets 30,130 27,048
Total assets $ 205,062 $ 199,365
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 46,182 $ 41,523
Other current liabilities 32,519 25,585
Total current liabilities $ 78,701 $ 67,108
Long-term debt 36,915 42,108
Other long-term liabilities 11,397 12,171
Total liabilities $ 127,013 $ 121,387
Total shareholders' equity 78,049 77,978
Total liabilities and shareholders equity $ 205,062 $ 199,365
Income Statement (figures in $ millions)
Net sales $ 500,433 $ 485,963
Cost of goods sold 373,486 361,346
Selling, general, and administrative expenses 96,071 91,863
Depreciation 10,619 10,170
Earnings before interest and taxes (EBIT) $ 20,257 $ 22,584
Interest expense 2,268 2,357
Taxable income $ 17,989 $ 20,227
Tax 4,600 7,079
Net income $ 13,389 $ 13,148
Dividends 6,214 6,785
Addition to retained earnings $ 7,175 $ 6,363

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.)

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