Wal-Mart€™s Comprehensive Income Following is the consolidated statement of shareholders€™ equity of Wal-Mart Stores, Inc., for the year ended January 31, 2009:

Required
1. Which items were included in comprehensive income? If these items had been included on the income statement as part of net income, what would have been the effect?
2. Do you think that the concept of comprehensive income would be useful to explain to the stockholders of Wal-Mart the impact of all events that took place during 2008? Why or whynot?

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Wal-Mart Stores, Inc. Consolidated Statements of Shareholders' Equity Capital in Other Number of Common xcess of Comprehenive Retained Amounts in milions except per share data) Shares Stock Par Value Income (Loss Eamings Total $397 $3,864 $57319 $64,608 Balance anuary 31, 2008 Comprehensive income 3,973 $3,028 Net incone 13,400 13,400 Other comprehensive income Foreign currency translation Net changes n fair values of derivatives Minimum pension liability 6,489) (17) (46) 6,499) (17) (46) 6,848 3,746) (3,416) 991 Total comprehensive income Cash dividends ($0.95 per sharel Purchase of Company stock Stock options exercised and other (61) 13 3,925 3,746 3,315 (61 (95) 987 $3,920 Balance January 31, 2009 $393 $2,6 $63,660 $5,285