Use the following data in addition to the financial statements provided:

• Target market price per share of $72.23 and Wal-Mart market price per share of $69.12

• Target number of outstanding common shares is 561.7 in millions. (Use the number given)

• Wal-Mart number of outstanding common shares is 3073.19 in millions.

(Use the number given)

Important:

The financial calculations should be completed for 2016 only

Annual reports provide several prior years information so investors and creditors can spot trends from year to year. You will not use 2012, 2013 or 2014 information for any of your calculations. You need 2015 for all ratios that require an average. For example:

(End of year 2015 + end of year 2016) / 2 = average

All ratios should include the numerator, denominator, and answer.