Appendix E Specimen Financial Statements: Walmart Inc.

The following are Walmart Inc.s financial statements as presented in the companys annual report for the year ended January 31, 2021. The complete annual report, including notes to the financial statements, is available at the companys website.

Walmart Inc. Consolidated Statements of Income (Amounts in millions, except per share data)
		Fiscal Years Ended January 31,
		2021		2020		2019
Revenues:
Net sales		$555,233		$519,926		$510,329
Membership and other income		3,918		4,038		4,076
Total revenues		559,151		523,964		514,405
Costs and expenses:
Cost of sales		420,315		394,605		385,301
Operating, selling, general and administrative expenses		116,288		108,791		107,147
Operating income		22,548		20,568		21,957
Interest:
Debt		1,976		2,262		1,975
Finance, capital lease and financing obligations		339		337		371
Interest income		(121)		(189)		(217)
Interest, net		2,194		2,410		2,129
Other (gains) and losses		(210)		(1,958)		8,368
Income before income taxes		20,564		20,116		11,460
Provision for income taxes		6,858		4,915		4,281
Consolidated net income		13,706		15,201		7,179
Consolidated net income attributable to noncontrolling interest		(196)		(320)		(509)
Consolidated net income attributable to Walmart		$13,510		$14,881		$6,670
Net income per common share:
Basic net income per common share attributable to Walmart		$4.77		$5.22		$2.28
Diluted net income per common share attributable to Walmart		4.75		5.19		2.26
Weighted-average common shares outstanding:
Basic		2,831		2,850		2,929
Diluted		2,847		2,868		2,945
Dividends declared per common share		$2.16		$2.12		$2.08

See accompanying notes.

Walmart Inc. Consolidated Statements of Comprehensive Income (Amounts in millions)
		Fiscal Years Ended January 31,
		2021		2020		2019
Consolidated net income		$13,706		$15,201		$7,179
Consolidated net income attributable to noncontrolling interest		(196)		(320)		(509)
Consolidated net income attributable to Walmart		13,510		14,881		6,670
Other comprehensive income (loss), net of income taxes
Currency translation and other		842		286		(226)
Net investment hedges		(221)		122		272
Cash flow hedges		235		(399)		(290)
Minimum pension liability		(30)		(1,244)		131
Other comprehensive income (loss), net of income taxes		826		(1,235)		(113)
Other comprehensive (income) loss attributable to noncontrolling interest		213		(28)		188
Other comprehensive income (loss) attributable to Walmart		1,039		(1,263)		75
Comprehensive income, net of income taxes		14,532		13,966		7,066
Comprehensive (income) loss attributable to noncontrolling interest		17		(348)		(321)
Comprehensive income attributable to Walmart		$14,549		$13,618		$6,745

See accompanying notes.

Walmart Inc. Consolidated Balance Sheets (Amounts in millions)
		As of January 31,
		2021		2020
ASSETS
Current assets:
Cash and cash equivalents		$17,741		$9,465
Receivables, net		6,516		6,284
Inventories		44,949		44,435
Prepaid expenses and other		20,861		1,622
Total current assets		90,067		61,806
Property and equipment, net		92,201		105,208
Operating lease right-of-use assets		13,642		17,424
Finance lease right-of-use assets, net		4,005		4,417
Goodwill		28,983		31,073
Other long-term assets		23,598		16,567
Total assets		$252,496		$236,495
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings		$ 224		$575
Accounts payable		49,141		46,973
Accrued liabilities		37,966		22,296
Accrued income taxes		242		280
Long-term debt due within one year		3,115		5,362
Operating lease obligations due within one year		1,466		1,793
Finance lease obligations due within one year		491		511
Total current liabilities		92,645		77,790
Long-term debt		41,194		43,714
Long-term operating lease obligations		12,909		16,171
Long-term finance lease obligations		3,847		4,307
Deferred income taxes and other		14,370		12,961
Commitments and contingencies
Equity:
Common stock		282		284
Capital in excess of par value		3,646		3,247
Retained earnings		88,763		83,943
Accumulated other comprehensive loss		(11,766)		(12,805)
Total Walmart shareholders equity		80,925		74,669
Noncontrolling interest		6,606		6,883
Total equity		87,531		81,552
Total liabilities and equity		$252,496		$236,495

See accompanying notes.

Walmart Inc. Consolidated Statements of Shareholders Equity (Amounts in millions)
		Common Stock				Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Walmart Shareholders Equity		Noncontrolling Interest		Total Equity
		Shares		Amount
Balances as of February 1, 2018		2,952		$295		$2,648		$85,107		$(10,181)		$77,869		$2,953		$80,822
Adoption of new accounting standards, net of income taxes								2,361		(1,436)		925		(1)		924
Consolidated net income								6,670				6,670		509		7,179
Other comprehensive income (loss), net of income taxes										75		75		(188)		(113)
Cash dividends declared ($2.08 per share)								(6,102)				(6,102)				(6,102)
Purchase of Company stock		(80)		(8)		(245)		(7,234)				(7,487)				(7,487)
Cash dividend declared to noncontrolling interest														(488)		(488)
Noncontrolling interest of acquired entity														4,345		4,345
Other		6		1		562		(17)				546		8		554
Balances as of January 31, 2019		2,878		288		2,965		80,785		(11,542)		72,496		7,138		79,634
Adoption of new accounting standards on February 1, 2019, net of income taxes								(266)				(266)		(34)		(300)
Consolidated net income								14,881				14,881		320		15,201
Other comprehensive income (loss), net of income taxes										(1,263)		(1,263)		28		(1,235)
Cash dividends declared ($2.12 per share)								(6,048)				(6,048)				(6,048)
Purchase of Company stock		(53)		(5)		(199)		(5,435)				(5,639)				(5,639)
Cash dividend declared to noncontrolling interest														(475)		(475)
Other		7		1		481		26				508		(94)		414
Balances as of January 31, 2020		2,832		284		3,247		83,943		(12,805)		74,669		6,883		81,552
Consolidated net income								13,510				13,510		196		13,706
Other comprehensive income (loss), net of income taxes										1,039		1,039		(213)		826
Cash dividends declared ($2.16 per share)								(6,116)				(6,116)				(6,116)
Purchase of Company stock		(20)		(2)		(97)		(2,559)				(2,658)				(2,658)
Cash dividends declared to noncontrolling interest														(365)		(365)
Other		9				496		(15)				481		105		586
Balances as of January 31, 2021		2,821		$282		$3,646		$88,763		$(11,766)		$80,925		$6,606		$87,531

See accompanying notes.

Walmart Inc. Consolidated Statements of Cash Flows (Amounts in millions)
		Fiscal Years Ended January 31,
		2021		2020		2019
Cash flows from operating activities:
Consolidated net income		$13,706		$15,201		$ 7,179
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization		11,152		10,987		10,678
Net unrealized and realized (gains) and losses		(8,589)		(1,886)		3,516
Losses on disposal of business operations		8,401		15		4,850
Asda pension contribution				(1,036)
Deferred income taxes		1,911		320		(499)
Other operating activities		1,521		1,981		1,734
Changes in certain assets and liabilities, net of effects of acquisitions and dispositions:
Receivables, net		(1,086)		154		(368)
Inventories		(2,395)		(300)		(1,311)
Accounts payable		6,966		(274)		1,831
Accrued liabilities		4,623		186		183
Accrued income taxes		(136)		(93)		(40)
Net cash provided by operating activities		36,074		25,255		27,753
Cash flows from investing activities:
Payments for property and equipment		(10,264)		(10,705)		(10,344)
Proceeds from the disposal of property and equipment		215		321		519
Proceeds from the disposal of certain operations		56		833		876
Payments for business acquisitions, net of cash acquired		(180)		(56)		(14,656)
Other investing activities		102		479		(431)
Net cash used in investing activities		(10,071)		(9,128)		(24,036)
Cash flows from financing activities:
Net change in short-term borrowings		(324)		(4,656)		(53)
Proceeds from issuance of long-term debt				5,492		15,872
Repayments of long-term debt		(5,382)		(1,907)		(3,784)
Dividends paid		(6,116)		(6,048)		(6,102)
Purchase of Company stock		(2,625)		(5,717)		(7,410)
Dividends paid to noncontrolling interest		(434)		(555)		(431)
Other financing activities		(1,236)		(908)		(629)
Net cash used in financing activities		(16,117)		(14,299)		(2,537)
Effect of exchange rates on cash, cash equivalents and restricted cash		235		(69)		(438)
Net increase in cash, cash equivalents and restricted cash		10,121		1,759		742
Cash and cash equivalents reclassified as assets held for sale		(1,848)
Cash, cash equivalents and restricted cash at beginning of year		9,515		7,756		7,014
Cash, cash equivalents and restricted cash at end of year		$17,788		$ 9,515		$ 7,756
Supplemental disclosure of cash flow information:
Income taxes paid		$5,271		$3,616		$3,982
Interest paid		2,216		2,464		2,348

See accompanying notes.

Appendix D Specimen Financial Statements: Amazon.com, Inc.

Amazon.com, Inc. is the worlds largest online retailer. It also produces consumer electronicsnotably the Kindle e-book reader and the Alexa digital assistant in its Echo speakersand is a major provider of cloud computing services. The following are Amazons financial statements as presented in the companys 2020 annual report. The complete annual report, including notes to the financial statements, is available at the companys website.

AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions)
		Year Ended December 31,
		2018		2019		2020
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD		$21,856		$32,173		$36,410
OPERATING ACTIVITIES:
Net income		10,073		11,588		21,331
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other		15,341		21,789		25,251
Stock-based compensation		5,418		6,864		9,208
Other operating expense (income), net		274		164		(71)
Other expense (income), net		219		(249)		(2,582)
Deferred income taxes		441		796		(554)
Changes in operating assets and liabilities:
Inventories		(1,314)		(3,278)		(2,849)
Accounts receivable, net and other		(4,615)		(7,681)		(8,169)
Accounts payable		3,263		8,193		17,480
Accrued expenses and other		472		(1,383)		5,754
Unearned revenue		1,151		1,711		1,265
Net cash provided by (used in) operating activities		30,723		38,514		66,064
INVESTING ACTIVITIES:
Purchases of property and equipment		(13,427)		(16,861)		(40,140)
Proceeds from property and equipment sales and incentives		2,104		4,172		5,096
Acquisitions, net of cash acquired, and other		(2,186)		(2,461)		(2,325)
Sales and maturities of marketable securities		8,240		22,681		50,237
Purchases of marketable securities		(7,100)		(31,812)		(72,479)
Net cash provided by (used in) investing activities		(12,369)		(24,281)		(59,611)
FINANCING ACTIVITIES:
Proceeds from short-term debt, and other		886		1,402		6,796
Repayments of short-term debt, and other		(813)		(1,518)		(6,177)
Proceeds from long-term debt		182		871		10,525
Repayments of long-term debt		(155)		(1,166)		(1,553)
Principal repayments of finance leases		(7,449)		(9,628)		(10,642)
Principal repayments of financing obligations		(337)		(27)		(53)
Net cash provided by (used in) financing activities		(7,686)		(10,066)		(1,104)
Foreign currency effect on cash, cash equivalents, and restricted cash		(351)		70		618
Net increase (decrease) in cash, cash equivalents, and restricted cash		10,317		4,237		5,967
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD		$32,173		$36,410		$42,377

See accompanying notes to consolidated financial statements.

AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data)
		Year Ended December 31,
		2018		2019		2020
Net product sales		$141,915		$160,408		$215,915
Net service sales		90,972		120,114		170,149
Total net sales		232,887		280,522		386,064
Operating expenses:
Cost of sales		139,156		165,536		233,307
Fulfillment		34,027		40,232		58,517
Technology and content		28,837		35,931		42,740
Marketing		13,814		18,878		22,008
General and administrative		4,336		5,203		6,668
Other operating expense (income), net		296		201		(75)
Total operating expenses		220,466		265,981		363,165
Operating income		12,421		14,541		22,899
Interest income		440		832		555
Interest expense		(1,417)		(1,600)		(1,647)
Other income (expense), net		(183)		203		2,371
Total non-operating income (expense)		(1,160)		(565)		1,279
Income before income taxes		11,261		13,976		24,178
Provision for income taxes		(1,197)		(2,374)		(2,863)
Equity-method investment activity, net of tax		9		(14)		16
Net income		$ 10,073		$ 11,588		$ 21,331
Basic earnings per share		$20.68		$23.46		$42.64
Diluted earnings per share		$20.14		$23.01		$41.83
Weighted-average shares used in computation of earnings per share:
Basic		487		494		500
Diluted		500		504		510

See accompanying notes to consolidated financial statements.

AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions)
		Year Ended December 31,
		2018		2019		2020
Net income		$10,073		$11,588		$21,331
Other comprehensive income (loss):
Net change in foreign currency translation adjustments:
Foreign currency translation adjustments, net of tax of $6, $(5), and $(36)		(538)		78		561
Reclassification adjustment for foreign currency translation included in Other operating expense (income), net, net of tax of $0, $29, and $0				(108)
Net foreign currency translation adjustments		(538)		(30)		561
Net change in unrealized gains (losses) on available-for-sale debt securities:
Unrealized gains (losses), net of tax of $0, $(12), and $(83)		(17)		83		273
Reclassification adjustment for losses (gains) included in Other income (expense), net, net of tax of $0, $0, and $8		8		(4)		(28)
Net unrealized gains (losses) on available-for-sale debt securities		(9)		79		245
Total other comprehensive income (loss)		(547)		49		806
Comprehensive income		$ 9,526		$11,637		$22,137

See accompanying notes to consolidated financial statements.

AMAZON.COM, INC. CONSOLIDATED BALANCE SHEETS (In millions, except per share data)
		December 31,
		2019		2020
ASSETS
Current assets:
Cash and cash equivalents		$ 36,092		$ 42,122
Marketable securities		18,929		42,274
Inventories		20,497		23,795
Accounts receivable, net and other		20,816		24,542
Total current assets		96,334		132,733
Property and equipment, net		72,705		113,114
Operating leases		25,141		37,553
Goodwill		14,754		15,017
Other assets		16,314		22,778
Total assets		$225,248		$321,195
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
Accounts payable		$ 47,183		$ 72,539
Accrued expenses and other		32,439		44,138
Unearned revenue		8,190		9,708
Total current liabilities		87,812		126,385
Long-term lease liabilities		39,791		52,573
Long-term debt		23,414		31,816
Other long-term liabilities		12,171		17,017
Commitments and contingencies (Note 7)
Stockholders equity:
Preferred stock, $0.01 par value:
Authorized shares 500
Issued and outstanding shares none
Common stock, $0.01 par value:
Authorized shares 5,000
Issued shares 521 and 527
Outstanding shares 498 and 503		5		5
Treasury stock, at cost		(1,837)		(1,837)
Additional paid-in capital		33,658		42,865
Accumulated other comprehensive income (loss)		(986)		(180)
Retained earnings		31,220		52,551
Total stockholders equity		62,060		93,404
Total liabilities and stockholders equity		$225,248		$321,195

See accompanying notes to consolidated financial statements.

AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (In millions)
		Common Stock						Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)		Retained Earnings		Total Stockholders Equity
		Shares		Amount		Treasury Stock
Balance as of January 1, 2018		484		$5		$(1,837)		$21,389		$(484)		$ 8,636		$27,709
Cumulative effect of change in accounting principles related to revenue recognition, income taxes, and financial instruments										(4)		916		912
Net income												10,073		10,073
Other comprehensive income (loss)										(547)				(547)
Exercise of common stock options		7
Stock-based compensation and issuance of employee benefit plan stock								5,402						5,402
Balance as of December 31, 2018		491		5		(1,837)		26,791		(1,035)		19,625		43,549
Cumulative effect of change in accounting principle related to leases												7		7
Net income												11,588		11,588
Other comprehensive income (loss)										49				49
Exercise of common stock options		7
Stock-based compensation and issuance of employee benefit plan stock								6,867						6,867
Balance as of December 31, 2019		498		5		(1,837)		33,658		(986)		31,220		62,060
Net income												21,331		21,331
Other comprehensive income (loss)										806				806
Exercise of common stock options		5
Stock-based compensation and issuance of employee benefit plan stock								9,207						9,207
Balance as of December 31, 2020		503		$5		$(1,837)		$42,865		$(180)		$52,551		$93,404

See accompanying notes to consolidated financial statements.

I need answers to b1 please thanks

The financial statements of Amazon.com, Inc. are presented in Appendix D. Click here to view AppendixD. The financial statements of WalMart, lnc, are presented in Appendix E. Clickhere to view Appendix E. (a1) Your answer is correct. Based on the information contained in these financial statements, compute the current ratio for the most recent fiscal year provided for each company. (Round answers to 2 decimal places, e.3.2.75.) Based on the information contained in these financial statements, compute the following ratios for each company's most recent fiscal year. (Round answers to 1 decimal place, e.g. 15.5% or 15.25. )