Amazon.com, Inc.’s financial statements are presented in Appendix D. Financial statements of Wal-Mart Stores, Inc. are presented in Appendix E. The complete annual reports of Amazon and Wal-Mart, including the notes to the financial statements, are available at each company’s respective website.

Instructions
Based on information contained in these financial statements, determine the following for each company.
1. a. Increase (decrease) in interest expense from 2014 to 2015.
b. Increase (decrease) in net income from 2014 to 2015.
c. Increase (decrease) in cash flow from operations from 2014 to 2015.
2. Cash flow from operations and net income for each company is different. What are some possible reasons for these differences?