Question: B. Walmart Earnings Release-Financial Statement (25 points) Please answer in 2 or 3 sentences: 1. What does Revenue reflect on Walmart's Condensed Consolidated Statements

B. Walmart Earnings Release-Financial Statement (25 points) Please answer in 2 or 3 sentences: 1. What does Revenue reflect on Walmart's Condensed Consolidated Statements of Income? (Hint: What does it mean and how is it calculated?) 2. How much has Walmart's Revenue changed from Fiscal Year 2020 to Fiscal Year 2021? (Please show your answer in percentage) 3. What does Cost and Expenses reflect on Walmart's Consolidated Statements of Income? (Hint: What does it mean and how is it calculated?) 4. How much has Walmart's Cost and Expenses changed from Fiscal Year 2020 to Fiscal Year 2021? (Please show your answer in percentage) 5. What does Total Equity reflect on Walmart's Consolidated Balance Sheet? (Hint: What does it mean and how is it calculated?) 6. How much has Walmart's Total Equity changed from Fiscal Year 2020 to Fiscal Year 2021? (Please show your answer in percentage) C. Accounting Questions (25 points) 1. Describe the Money Measurement Principle in accounting. 2. Why is cash flow important? 3. Why are cash flows in accounting measured on an accrual basis instead of on a cash basis? 4. What is the difference between changes in revenues and expenses and increases or decreases in cash? (Profit vs. Cash Flow) 5. What is the difference between Book Value and Market Value of a company? D.Excel Financial Statement Questions (30 points) Download and complete the questions included in the Excel file Assignment 1 Excel Problems. All items highlighted in YELLOW should be completed. -1-1

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