1. Walmart Inc.

INCOME STATEMENT
 (Figures in $ millions)
 Net sales: $540,000
 Cost of goods sold: $405,000
 Other expenses: $95,500
 Depreciation: $18,500
 Earnings before interest and taxes (EBIT): $21,000
 Interest expense: $3,800
 Income before tax: $17,200
 Taxes (at 24%): $4,128
 Net income: $13,072
 Dividends: $6,000

BALANCE SHEET
 (Figures in $ millions)

	End of Year	Start of Year
Assets
Cash and marketable securities	$8,300	$7,900
Receivables	$6,500	$6,200
Inventories	$44,700	$42,500
Other current assets	$11,800	$12,200
Total current assets	$71,300	$68,800
Net property, plant, and equipment	$125,500	$123,000
Other long-term assets	$31,800	$29,500
Total assets	$228,600	$221,300
Liabilities and shareholders’ equity
Payables	$47,500	$46,000
Short-term debt	$5,700	$6,500
Other current liabilities	$9,800	$9,200
Total current liabilities	$63,000	$61,700
Long-term debt and leases	$50,200	$53,000
Other long-term liabilities	$39,500	$38,200
Shareholders’ equity	$75,900	$68,400
Total liabilities and shareholders’ equity	$228,600	$221,300

Calculate the following financial ratios for Walmart Inc.: a. Return on equity (use average balance sheet figures)% b. Return on assets (use average balance sheet figures)% c. Return on capital (use average balance sheet figures)______% d. Days in inventory (use start-of-year balance sheet figures)____days e. Inventory turnover (use start-of-year balance sheet figures) f. Average collection period (use start-of-year balance sheet figures)____days g. Operating profit margin ____% h. Long-term debt ratio (use end-of-year balance sheet figures) i. Total debt ratio (use end-of-year balance sheet figures) j. Times interest earned k. Cash coverage ratio l. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures)