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Walmart Income Statement For the year ended January 31, 2018 Walmart Income Statement For the year ended January 31, 2017 Details 2018 Details 2017 $

Walmart

Income Statement

For the year ended January 31, 2018

Walmart

Income Statement

For the year ended January 31, 2017

Details

2018

Details

2017

$

$

Total Revenue

$500,343,000

Total Revenue

$485,873,000

Cost of Revenue

$373,396,000

Cost of Revenue

$361,256,000

Gross Profit

$126,947,000

Gross Profit

$124,617,000

Sales, General and Admin.

$106,510,000

Sales, General and Admin.

$101,853,000

Operating Income

$20,437,000

Operating Income

$22,764,000

Addl income/expense items

($2,984,000)

Addl income/expense items

$100,000

Earnings Before Interest and Tax

$17,453,000

Earnings Before Interest and Tax

$22,864,000

Interest Expense

$2,330,000

Interest Expense

$2,367,000

Earnings Before Tax

$15,123,000

Earnings Before Tax

$20,497,000

Income Tax

$4,600,000

Income Tax

$6,204,000

Minority Interest

($661,000)

Minority Interest

($650,000)

Net Income-Cont. Operations

$9,862,000

Net Income-Cont. Operations

$13,643,000

Net Income-

$9,862,000

Net Income-

$13,643,000

Net Income-Applicable to Common Shareholders

$9,862,000

Net Income-Applicable to Common Shareholders

$13,643,000

Target

Income Statement

For the year ended February 23, 2018

Target

Income Statement

For the year ended January 28, 2017

Details

2018

Details

2017

$

$

Total Revenue

$71,879,000

Total Revenue

$69,495,000

Cost of Revenue

$51,125,000

Cost of Revenue

$49,145,000

Gross Profit

$20,754,000

Gross Profit

$20,350,000

Sales, General and Admin.

$14,248,000

Sales, General and Admin.

$13,356,000

Other Operating Items

$2,194,000

Other Operating Items

$2,025,000

Operating Income

$4,312,000

Operating Income

$4,969,000

Addl income/expense items

0

Addl income/expense items

0

Earnings Before Interest and Tax

$4,312,000

Earnings Before Interest and Tax

$4,969,000

Interest Expense

$666,000

Interest Expense

$1,004,000

Earnings Before Tax

$3,646,000

Earnings Before Tax

$3,965,000

Income Tax

$718,000

Income Tax

$1,296,000

Minority Interest

0

Minority Interest

0

Net Income-Cont. Operations

$2,928,000

Net Income-Cont. Operations

$2,669,000

Net Income

$2,934,000

Net Income

$2,737,000

Net Income-Applicable to Common Shareholders

$2,934,000

Net Income-

$2,737,000

Target

Balance Sheet

For the year ended February 3, 2018

Target

Balance Sheet

For the year ended

January 28, 2017

Target

Balance Sheet

For the year ended

January 30, 2016

Details

2018

Details

2017

Details

2016

$

$

$

Cash and Cash Equivalents

$2,643,000

Cash and Cash Equivalents

$2,512,000

Cash and Cash Equivalents

$4,046,000

Short-Term Investments

0

Short-Term Investments

0

Short-Term Investments

0

Net Receivables

0

Net Receivables

0

Net Receivables

0

Inventory

$8,657,000

Inventory

$8,309,000

Inventory

$8,601,000

Other Current Assets

$1,264,000

Other Current Assets

$1,169,000

Other Current Assets

$1,483,000

Total Current Assets

$12,564,000

Total Current Assets

$11,990,000

Total Current Assets

$14,130,000

Long-Term Investments

0

Long-Term Investments

0

Long-Term Investments

0

Fixed Assets

$25,018,000

Fixed Assets

$24,658,000

Fixed Assets

$25,217,000

Goodwill

0

Goodwill

0

Goodwill

0

Intangible Assets

0

Intangible Assets

0

Intangible Assets

0

Other Assets

$1,417,000

Other Assets

$783,000

Other Assets

$915,000

Deferred Asset Charges

0

Deferred Asset Charges

0

Deferred Asset Charges

0

Total Assets

$38,999,000

Total Assets

$37,431,000

Total Assets

$40,262,000

Current Liabilities

Current Liabilities

Current Liabilities

Accounts Payable

$12,931,000

Accounts Payable

$10,989,000

Accounts Payable

$11,654,000

Short-Term Debt / Current Portion of Long-Term Debt

$270,000

Short-Term Debt / Current Portion of Long-Term Debt

$1,718,000

Short-Term Debt / Current Portion of Long-Term Debt

$815,000

Other Current Liabilities

0

Other Current Liabilities

0

Other Current Liabilities

$153,000

Total Current Liabilities

$13,201,000

Total Current Liabilities

$12,707,000

Total Current Liabilities

$12,622,000

Long-Term Debt

$11,317,000

Long-Term Debt

$11,031,000

Long-Term Debt

$11,945,000

Other Liabilities

$2,059,000

Other Liabilities

$1,879,000

Other liabilities

$1,915,000

Deferred Liability Charges

$713,000

Deferred Liability Charges

$861,000

Deferred Liability Charges

$823,000

Minority Interest

0

Minority Interest

0

Minority Interest

0

Total Liabilities

$27,290,000

Total Liabilities

$26,478,000

Total Liabilities

$27,305,000

Stock Holders Equity

Stock Holders Equity

Stock Holders Equity

Common Stocks

$45,000

Common Stocks

$46,000

Common Stocks

$50,000

Capital Surplus

$5,858,000

Capital Surplus

$5,661,000

Capital Surplus

$5,348,000

Retained Earnings

$6,553,000

Retained Earnings

$5,884,000

Retained Earnings

$8,188,000

Other Equity

($747,000)

Other Equity

($638,000)

Other Equity

($629,000)

Total Equity

$11,709,000

Total Equity

$10,953,000

Total Equity

$12,957,000

Total Liabilities & Equity

$38,999,000

Total Liabilities & Equity

$37,431,000

Total Liabilities & Equity

$40,262,000

1. Compute accounts receivable turnover and days sales outstanding for only the two most recent years. Accounts receivable the following provides some guidelines for analyzing a company's accounts receivable.

Are sales primarily on credit or is a typical sale transacted? Consider the industry and the companies business model.

What is the relative size of the A/R? How has it changed in the last two-year period?

How large is the allowance for doubtful accounts? Determine the balance relative to gross A/R.

What did the company record as bad debt expense? Compute the common size amount.

Compute A/R turnover and days sales outstanding for the last two years reported on the income statement. Obtain additional information on the balance sheet to compute average balances for the denominator. Consider the current economic environment and the companies landscape. Would you expect collections to have slowed down or sped up during the year?

Does the company have any large customers that increased the companys credit risk?

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