Question: The balance sheet and disclosure of significant accounting polic

The balance sheet and disclosure of significant accounting policies taken from the 2009 annual report of Walmart Stores, Inc., appear below. Use this information to answer the following questions:
1. What are the asset classifications contained in Walmart's balance sheet?
2. What amounts did Walmart report for the following items for 2009:
a. Total assets
b. Current assets
c. Current liabilities
d. Total shareholders' equity
e. Retained earnings
f. Inventories
3. What is the par value of Walmart's common stock? How many shares of common stock are authorized, issued, and outstanding at the end of 2009?
4. Compute Walmart's current ratio for 2009.
5. Identify the following items:
a. The company's inventory valuation method.
b. The company's depreciation method.
c. The definition of cash equivalents.

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