Question: Locate the 2009 Form 10-K for Wal-Mart in Appendix A and consider the following questions: 1. Examine Wal-Marts balance sheet as of January 31, 2009.

Locate the 2009 Form 10-K for Wal-Mart in Appendix A and consider the following questions:
1. Examine Wal-Mart’s balance sheet as of January 31, 2009. What percent of the increase in Wal-Mart’s total assets from 2008 to 2009 was financed with an increase in the company’s long-term debt?
2. Compute Wal-Mart’s debt ratio for 2009 and 2008. Is the ratio increasing or decreasing? Identify the primary reason for the change.

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