Your starting point is to locate the latest .pdf version of the Walmart Annual Report, and from the Table of Contents, find the page number for the Consolidated Statements of Income and the Consolidated Balance Sheets under the Item 8. Financial Statements and Supplementary Data heading. Respond to the following:

Calculate Walmarts Operating Margin. What is the result? Explain if the result is favorable or unfavorable for Walmart. Next, what does the Operating Margin tell you about Walmarts efforts? Support your answer.