Walmart, Inc.
Abbreviated Income Statements for the Years Ending January 31, 2012-2015
($ in Millions)
Account	1/31/2012	1/31/2013	1/31/2014	1/31/2015
Sales	$446,509	$468,651	$476,294
Cost of goods sold	$-334,393	$-352,297	$-358,069
Selling, general, and administrative expenses	$-86,173	$-89,148	$-91,763
EBIT	$25,943	$27,206	$26,462
Interest expense	$-2,320	$-2,249	$-2,335
Taxes	$-8,741	$-9,234	$-8,927
Net income	$14,882	$15,723	$15,200

Predicting net income.Abbreviated income statements for Walmart, Inc. are in the popup window:

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. Predict the net income for the period ending January 31, 2015, by determining the growth rates of sales, COGS, SG&A, and interest expense. Use a tax rate of

37%.

Note:Enter all expenses as negative numbers.

(Hint:

Use the compounded growth rate method to calculate all of the growth rates.)The sales growth is

nothing%.

(Round to three decimal places.)

Enter your answer in the answer box and then click Check Answer.

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