The following information was extracted from quarterly reports for Wal-Mart Stores, Inc. (amounts in millions):

The following information was extracted from the notes to the financial statements in the Wal-Mart Stores, Inc., Annual Report (for the fiscal year ended January 31, 2012, amounts in millions):

Required
1. Assess the seasonal nature of Walmart's sales and income for the company as a whole and by operating segment.
2. Assess Walmart's profitability by quarter and by operating segment.

Transcribed Image Text:

Three Months Ended April 30 2010 Three Months Ended July 31 Three Months Ended October 31 Operating Income 2011 2011 2010 2011 2010 Walmart International. . Sam's Club. ..._.._ _ . . 1,096 459 1,095 1,415 492 1,299 1,397 390 1,223 367 429 428 Fiscal Year Ended January 31, 2012 Walmart Walmart U.S. International Sam's Club Other Consolidated Net sales Operating income (loss) $264,186 $125,873 $53,795 20,367 93,050 6,214 81,364 $443,854 1,865 (1,888) 26,558 12,823 6,080193,317 Total assets of continuing 17 Quarterly Financial Data (Unaudited) (amounts in millions except per share data) Fiscal Year Ended January 31, 2012 Q1 Q2 Q3 Q4 Net sales Cost of sales Income from continuing operations . .. 78,177 81,770 82,591 92,589 5,438 3,578 3,937 3,501