Question

		(Amounts in millions) 2017 2016 2015 Revenues $                    485,873.00 $            482,130.00 $      485,651.00 Cost of sales $                    361,256.00 $            360,984.00 $      365,086.00 Gross Profit $                    124,617.00 $            121,146.00 $      120,565.00 Operating, selling, general and administrative expenses                         101,853.00                    97,041.00 $         93,418.00 Operating income $                       22,764.00 $               24,105.00 $         27,147.00 Non-operating Income/Expenses: Interest expenses                               2,367.00                       2,548.00 $            2,461.00 Interest income                                    100.00                              81.00 $                 113.00 Interest, net $                          2,267.00 $                  2,467.00 $            2,348.00 Income from continuing operations before income taxes $                       20,497.00 $               21,638.00 $         24,799.00 Income taxes                               6,204.00                       6,558.00 $            7,985.00 Income from continuing operations $                       14,293.00 $               15,080.00 $         16,814.00 Income (loss) from discontinued operations, net of income taxes                                                 -                                          -   $                 285.00 Consolidated net income $                       14,293.00 $               15,080.00 $         17,099.00 Weighted-average common shares outstanding (basic)                               3,101.00                       3,207.00                 3,230.00 Cash Dividends declared $                          6,202.00 $                  6,285.72 $            6,202.00 Current assets: Cash and cash equivalents                               6,867.00                       8,705.00 $            9,135.00 Receivables, net                               5,835.00                       5,624.00 $            6,778.00 Inventories                            43,046.00                    44,469.00 $         45,141.00 Prepaid expenses and other                               1,941.00                       1,441.00 $            2,224.00 Total current assets $                       57,689.00 $               60,239.00 $         63,278.00 Property and equipment: Property and equipment                         179,492.00                 176,958.00 $      177,395.00 Less accumulated depreciation                          (71,782.00)                  (66,787.00) $       (63,115.00) Property and equipment, net $                    107,710.00 $            110,171.00 $      114,280.00 Property under capital leases: Property under capital leases                            11,637.00                    11,096.00 $            5,239.00 Less accumulated amortization                             (5,169.00)                     (4,751.00) $          (2,864.00) Property under capital leases, net $                          6,468.00 $                  6,345.00 $            2,375.00 Goodwill                            17,037.00                    16,695.00 $         18,102.00 Other assets and deferred charges                               9,921.00                       6,131.00 $            5,671.00 Total assets $                    198,825.00 $            199,581.00 $      203,706.00 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings                               1,099.00                       2,708.00 $            1,592.00 Accounts payable                            41,433.00                    38,487.00 $         38,410.00 Accrued liabilities                            20,654.00                    19,607.00 $         19,152.00 Accrued income taxes                                    921.00                           521.00 $            1,021.00 Long-term debt due within one year                               2,256.00                       2,745.00 $            4,810.00 Obligations under capital leases due within one year                                    565.00                           551.00 $                 287.00 Total current liabilities $                       66,928.00 $               64,619.00 $         65,272.00 Long-term debt                            36,015.00                    38,214.00 $         41,086.00 Long-term obligations under capital leases                               6,003.00                       5,816.00 $            2,606.00 Deferred income taxes and other                               9,344.00                       7,321.00 $            8,805.00 Redeemable noncontrolling interest                                                 -                                          -   $                              -   Total Long-term liabilities $                       51,362.00 $               51,351.00 $         52,497.00 Total Liabilities $                    118,290.00 $            115,970.00 $      117,769.00 Equity: Common stock                                    305.00                           317.00 $                 323.00 Paid-in Capital in excess of par value                               2,371.00                       1,805.00 $            2,462.00 Retained earnings & Accumulated other comprehensive income (loss)                            75,122.00                    78,424.00 $         78,609.00 Total Walmart shareholders' equity $                       77,798.00 $               80,546.00 $         81,394.00 Nonredeemable noncontrolling interest                               2,737.00                       3,065.00 $            4,543.00 Total equity $                       80,535.00 $               83,611.00 $         85,937.00 Total liabilities and equity $                    198,825.00 $            199,581.00 $      203,706.00 (Amounts in millions) 2014 2013 2012 Revenues $                    476,294.00 $            469,162.00 $      446,950.00 Cost of sales $                    358,069.00 $            352,488.00 $      335,127.00 Gross Profit $                    118,225.00 $            116,674.00 $      111,823.00 Operating, selling, general and administrative expenses $                       91,353.00 $               88,873.00 $         85,265.00 Operating income $                       26,872.00 $               27,801.00 $         26,558.00 Non-operating Income/Expenses: Interest expenses $                          2,335.00 $                  2,251.00 $            2,322.00 Interest income $                               119.00 $                      187.00 $                 162.00 Interest, net $                          2,216.00 $                  2,064.00 $            2,160.00 Income from continuing operations before income taxes $                       24,656.00 $               25,737.00 $         24,398.00 Income taxes $                          8,105.00 $                  7,981.00 $            7,944.00 Income from continuing operations $                       16,551.00 $               17,756.00 $         16,454.00 Income (loss) from discontinued operations, net of income taxes $                               144.00 $                                   -   $                  (67.00) Consolidated net income $                       16,695.00 $               17,756.00 $         16,387.00 Weighted-average common shares outstanding (basic)                               3,269.00                       3,374.00                 3,460.00 Cash Dividends declared $                          6,139.00 $                  5,361.00 $            5,048.00 ASSETS 2014 2013 2012 Current assets: Cash and cash equivalents $                  7,281.00 $            7,781.00 $            6,550.00 Receivables, net $                  6,677.00 $            6,768.00 $            5,937.00 Inventories $               44,858.00 $         43,803.00 $         40,714.00 Prepaid expenses and other $                  2,369.00 $            1,588.00 $            1,774.00 Total current assets $               61,185.00 $         59,940.00 $         54,975.00 Property and equipment: Property and equipment $            173,089.00 $      165,825.00 $      155,002.00 Less accumulated depreciation $             (57,725.00) $       (51,896.00) $       (45,399.00) Property and equipment, net $            115,364.00 $      113,929.00 $      109,603.00 Property under capital leases: Property under capital leases $                  5,589.00 $            5,899.00 $            5,936.00 Less accumulated amortization $                (3,046.00) $          (3,147.00) $          (3,215.00) Property under capital leases, net $                  2,543.00 $            2,752.00 $            2,721.00 Goodwill $               19,510.00 $         20,497.00 $         20,651.00 Other assets and deferred charges $                  6,149.00 $            5,987.00 $            5,456.00 Total assets $            204,751.00 $      203,105.00 $      193,406.00 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings $                  7,670.00 $            6,805.00 $            4,047.00 Accounts payable $               37,415.00 $         38,080.00 $         36,608.00 Accrued liabilities $               18,793.00 $         18,808.00 $         18,180.00 Accrued income taxes $                      966.00 $            2,211.00 $            1,164.00 Long-term debt due within one year $                  4,103.00 $            5,587.00 $            1,975.00 Obligations under capital leases due within one year $                      398.00 $                 327.00 $                326.00 Total current liabilities $               69,345.00 $         71,818.00 $         62,300.00 Long-term debt $               41,771.00 $         38,394.00 $         44,070.00 Long-term obligations under capital leases $                  2,788.00 $            3,023.00 $            3,009.00 Deferred income taxes and other $                  8,017.00 $            7,613.00 $            7,862.00 Redeemable noncontrolling interest $                  1,491.00 $                 519.00 $                404.00 Total Long-term liabilities $               54,067.00 $         49,549.00 $         55,345.00 Total Liabilities $            123,412.00 $      121,367.00 $      117,645.00 Equity: Common stock $                      323.00 $                 332.00 $                342.00 Paid-in Capital in excess of par value $                  2,362.00 $            3,620.00 $            3,692.00 Retained earnings & Accumulated other comprehensive income (loss) $               73,570.00 $         72,391.00 $         67,281.00 Total Walmart shareholders' equity $               76,255.00 $         76,343.00 $         71,315.00 Nonredeemable noncontrolling interest $                  5,084.00 $            5,395.00 $            4,446.00 Total equity $               81,339.00 $         81,738.00 $         75,761.00 Total liabilities and equity $            204,751.00 $      203,105.00 $      193,406.00 1. Calculate the Net income, Dividens, Net sales, Net credit sales, average inventory, and Average fixed assets

Answer 1

1)Net Income

Net income refers the company's total earnings. That is obtained by taking Total Revenue less all expenses such as Depreciation,interest,... to arrie at net income or net profit.

Year	2017	2016	2015	2014	2013	2012	TOTAL 6YEARS
Net Income(from statement of income)	14,293	15,080	17,099	16,695	17,756	16,387	97,310

Dividend

Dividend can be calculated from Retained Earnings Formula.

(In statement we have given dividend Declared that may not be the case actual dividend paid.)

Dividend =RE @ begining of year(last year's from statement) - RE@ end of year + Net Income/(loss) - Stock Dividend (if any)

Years	2017	2016	2015	2014	2013	2012
RE @begning (previous year's)(2)	78,424	78,609	73,570	72,391	67,281	N/A
Less:RE (in SOFP) this year (1)	(75,122)	(78,424)	(78,609)	(73,570)	(72,391)	(67,281)
Add/(less):Net Income/(loss) (from above table)	14,293	15,080	17,099	16,695	17,756
Cash Dividend	17,595	15,265	12,060	15,516	12,646

Net Sales & Net Credit sales

Net sales is applicable where there is sales return,discounts or any allowance is there.

It can be calculated by total revenue, less the cost of sales returns(by customer), allowances, and discounts.

And Net credit Sales is of similar type where we have Credit sales figure less any Sales return(by customer) ,discount.

Average Inventory

Average inventory of a period can be obtained by Adding inventory at the begining and end of period, dividing it by 2.

Year	2017	2016	2015	2014	2013	2012	Total
Inventory @begining(previous year's closing)	44,469	45,141	44,858	43,803	40,714	N/A
Inventory @end of year(SOFP)	43,046	44,469	45,141	44,858	43,803	40,714	262,031
Sum	87,515	89,610	89,999	88,661	84,517	n/a
/Divid by 2
Average inventory of period	43,758	44,805	45,000	44,331	42,259		220,153

Average inventory of 6years =220,153/6 =36,692.

Average Fixed Asset

Fixed assets are tangible long term assetssuch as Property,Plant And Equipment.

alculating Average Fixed asset Will be as same as avg Inventory. Fixed assets at start of year plus end of year dividing by 2.

Here Fixed asset will be PPE and Capital Lease asset (After deducting depreciation)

Years	2017	2016	2015	2014	2013	2012
Fixed Asset at begining(net PPE+ net capital Leased)	116,516	116,655	117,907	116,681	112,324	na
Fixed asset @ End(net PPE+ net capital Leased)	114,178	116,516	116,655	117,907	116,681	112,324
Sum	203,694	233,171	234,562	234,588	229,005
divided by 2
Average fixed Asset	115,347	116,585	117,281	117,294	114,502