Use the financial statements found within the 10K for Wal-Mart from fiscal year 2016 (year ended January 31, 2016) to answer the following questions. (Hint: You will utilize the consolidated balance sheet (PDF page 220), consolidated statement of income (PDF page 218), consolidated statement of cash flows (PDF page 223), and Footnote 11 (PDF page 243) to answer these questions.

Wal-Mart has significant commitments under operating leases. If these agreements had been treated as capital leases, what additional amount would be reported as a lease obligation on the balance sheet as of January 31, 2016? Quantify and discuss the impact on Wal-Marts debt-to-equity ratio compared to its reported debt to equity ratio.

Wal-Mart Stores, Inc. Consolidated Balance Sheets Fiscal Years Ended JannarY3 2016 qupmemt 176,958 Property under capital lease and fimancing obligations: Propaty under capital lease and financing obligations Property umder capital lease and financing obligations, net Other assets and deferred charges 199,581 $ Long-tern debt due within one year Capital lease and financing obigations ue within one year Accummlated other comprehensive income Coss) Total Walmart shareholders equiry Wal-Mart Stores, Inc. Consolidated Balance Sheets Fiscal Years Ended JannarY3 2016 qupmemt 176,958 Property under capital lease and fimancing obligations: Propaty under capital lease and financing obligations Property umder capital lease and financing obligations, net Other assets and deferred charges 199,581 $ Long-tern debt due within one year Capital lease and financing obigations ue within one year Accummlated other comprehensive income Coss) Total Walmart shareholders equiry