COMPANY WALMART 10 K REPORT ( https://s201q4cdn.com/262069030/files/doc_financials/2023/ar/Walmart-10K-

Reports-Optimized.pdf )

The financial statements for your company are posted in Item 8 of the SEC 10-K document. Federal law requires that the financial statements be audited by an independent accounting (audit) firm. Search for the auditor's report.

1. The audit report is usually just before the financial statements. If not just before the financial reports, the letter is likely after the Notes to the Financial Statements. This is a letter in which the auditor renders an opinion on the financial statements. What is the name of the auditor (Audit firm name)? Viewing their signature, what city do you see?

2. The first page of the SEC 10-K is very standard and lists two key locations. Using this information, post the state of incorporation and the city and state of the corporate headquarters for your company.

Optional: Are you curious? If you think some of the numbers on the financial statements are impressive, then you might be interested in seeing how much the chief executive officer (CEO) of your company makes. Public corporations are required to publish the compensation of their top executives. To find that info, do the following: Go to the company's website and look for "Investors" Look for SEC Filings and then narrow your search to "Annual" filings or Proxy Statements. Look for Schedule 14A (Proxy Statement) and choose the most recent one (should report compensation for the same year as your 10-K) Look in the Table of Contents for "Summary Compensation Table". That page will list the compensation for the top executive officers, starting with the CEO. It is broken down into columns showing Salary, Bonuses, and other types of compensation. The right-most column shows Total Compensation. I have linked the 2022 Proxy Statement for Bank of America (BOA). BOA's CEO, Brian T. Moynihan earned $30.2 million in total compensation in 2022! Net income was $26.015 billion, to give you some perspective. If you are not too bummed out by the CEO's salary you find, here is something else in the Proxy Statement you can look up. Did you know that a law was passed, the Dodd-Frank Act of 2010, that requires public companies to report the ratio between the CEO's compensation and the median compensation of the company's employees? In the Proxy Statement, do a search for Pay Ratio. Then go to that page, where the company reports the CEO's compensation and the median compensation for workers. For BOA, go to report page 79 (PDF page 84). Mr. Moynihan's compensation of $30,187,252 compared to the median compensation of $117,040 gives a ratio of 258:1. That means Moynihan makes 258 times the median salary of BOA employees! And, if you think that is bad, the average salary of a new BOA employee is higher than most workers because the company raised its minimum hourly salary to $20 per hour in March, 2020. Though this is far better than the U.S. minimum wage of $7.25 per hour (roughly $15,000 for a full time worker), it is still a 258:1 ratio compared to Mr. Moynihan! If you take the time to look up the CEO's salary and the pay ratio, feel free to comment on it. Bank of America's 2022 Proxy Report (https://investor.bankofamerica.com/regulatory-and-other-filings/proxy-statements/content/0001193125-23-

062686/0001193125-23-062686pdf) See PDF page 73 (report page 68). Your summary table should look like this one. For the Pay ratio, see PDF page 84 (report page 79).