Relations between Financial Statements Prepare an analysis that explains the change in retained earnings from 83943 million at the end of fiscal 2019 to 88763 million at the end of fiscal 2020 Note that Walmart is somewhat unusual in that they have a stock repurchase program where repurchased stock is constructively retired and returned to an unissued status according to the Form 10K Thus whereas most firms stock repurchases appear as a deduction within shareholders equity titled treasury shares Walmart instead reduces retained earnings directly Do not be alarmed if your reconciliation is close to but does not exactly equal the 88763 million ending balance