Walmart Income Statement For the year ended January 31, 2018 Walmart Income Stat
ID: 2337514 • Letter: W
Question
Walmart
Income Statement
For the year ended January 31, 2018
Walmart
Income Statement
For the year ended January 31, 2017
Details
2018
Details
2017
$
$
Total Revenue
$500,343,000
Total Revenue
$485,873,000
Cost of Revenue
$373,396,000
Cost of Revenue
$361,256,000
Gross Profit
$126,947,000
Gross Profit
$124,617,000
Sales, General and Admin.
$106,510,000
Sales, General and Admin.
$101,853,000
Operating Income
$20,437,000
Operating Income
$22,764,000
Add’l income/expense items
($2,984,000)
Add’l income/expense items
$100,000
Earnings Before Interest and Tax
$17,453,000
Earnings Before Interest and Tax
$22,864,000
Interest Expense
$2,330,000
Interest Expense
$2,367,000
Earnings Before Tax
$15,123,000
Earnings Before Tax
$20,497,000
Income Tax
$4,600,000
Income Tax
$6,204,000
Minority Interest
($661,000)
Minority Interest
($650,000)
Net Income-Cont. Operations
$9,862,000
Net Income-Cont. Operations
$13,643,000
Net Income-
$9,862,000
Net Income-
$13,643,000
Net Income-Applicable to Common Shareholders
$9,862,000
Net Income-Applicable to Common Shareholders
$13,643,000
Target
Income Statement
For the year ended February 23, 2018
Target
Income Statement
For the year ended January 28, 2017
Details
2018
Details
2017
$
$
Total Revenue
$71,879,000
Total Revenue
$69,495,000
Cost of Revenue
$51,125,000
Cost of Revenue
$49,145,000
Gross Profit
$20,754,000
Gross Profit
$20,350,000
Sales, General and Admin.
$14,248,000
Sales, General and Admin.
$13,356,000
Other Operating Items
$2,194,000
Other Operating Items
$2,025,000
Operating Income
$4,312,000
Operating Income
$4,969,000
Add’l income/expense items
0
Add’l income/expense items
0
Earnings Before Interest and Tax
$4,312,000
Earnings Before Interest and Tax
$4,969,000
Interest Expense
$666,000
Interest Expense
$1,004,000
Earnings Before Tax
$3,646,000
Earnings Before Tax
$3,965,000
Income Tax
$718,000
Income Tax
$1,296,000
Minority Interest
0
Minority Interest
0
Net Income-Cont. Operations
$2,928,000
Net Income-Cont. Operations
$2,669,000
Net Income
$2,934,000
Net Income
$2,737,000
Net Income-Applicable to Common Shareholders
$2,934,000
Net Income-
$2,737,000
Target
Balance Sheet
For the year ended February 3, 2018
Target
Balance Sheet
For the year ended
January 28, 2017
Target
Balance Sheet
For the year ended
January 30, 2016
Details
2018
Details
2017
Details
2016
$
$
$
Cash and Cash Equivalents
$2,643,000
Cash and Cash Equivalents
$2,512,000
Cash and Cash Equivalents
$4,046,000
Short-Term Investments
0
Short-Term Investments
0
Short-Term Investments
0
Net Receivables
0
Net Receivables
0
Net Receivables
0
Inventory
$8,657,000
Inventory
$8,309,000
Inventory
$8,601,000
Other Current Assets
$1,264,000
Other Current Assets
$1,169,000
Other Current Assets
$1,483,000
Total Current Assets
$12,564,000
Total Current Assets
$11,990,000
Total Current Assets
$14,130,000
Long-Term Investments
0
Long-Term Investments
0
Long-Term Investments
0
Fixed Assets
$25,018,000
Fixed Assets
$24,658,000
Fixed Assets
$25,217,000
Goodwill
0
Goodwill
0
Goodwill
0
Intangible Assets
0
Intangible Assets
0
Intangible Assets
0
Other Assets
$1,417,000
Other Assets
$783,000
Other Assets
$915,000
Deferred Asset Charges
0
Deferred Asset Charges
0
Deferred Asset Charges
0
Total Assets
$38,999,000
Total Assets
$37,431,000
Total Assets
$40,262,000
Current Liabilities
Current Liabilities
Current Liabilities
Accounts Payable
$12,931,000
Accounts Payable
$10,989,000
Accounts Payable
$11,654,000
Short-Term Debt / Current Portion of Long-Term Debt
$270,000
Short-Term Debt / Current Portion of Long-Term Debt
$1,718,000
Short-Term Debt / Current Portion of Long-Term Debt
$815,000
Other Current Liabilities
0
Other Current Liabilities
0
Other Current Liabilities
$153,000
Total Current Liabilities
$13,201,000
Total Current Liabilities
$12,707,000
Total Current Liabilities
$12,622,000
Long-Term Debt
$11,317,000
Long-Term Debt
$11,031,000
Long-Term Debt
$11,945,000
Other Liabilities
$2,059,000
Other Liabilities
$1,879,000
Other liabilities
$1,915,000
Deferred Liability Charges
$713,000
Deferred Liability Charges
$861,000
Deferred Liability Charges
$823,000
Minority Interest
0
Minority Interest
0
Minority Interest
0
Total Liabilities
$27,290,000
Total Liabilities
$26,478,000
Total Liabilities
$27,305,000
Stock Holders’ Equity
Stock Holders’ Equity
Stock Holders’ Equity
Common Stocks
$45,000
Common Stocks
$46,000
Common Stocks
$50,000
Capital Surplus
$5,858,000
Capital Surplus
$5,661,000
Capital Surplus
$5,348,000
Retained Earnings
$6,553,000
Retained Earnings
$5,884,000
Retained Earnings
$8,188,000
Other Equity
($747,000)
Other Equity
($638,000)
Other Equity
($629,000)
Total Equity
$11,709,000
Total Equity
$10,953,000
Total Equity
$12,957,000
Total Liabilities & Equity
$38,999,000
Total Liabilities & Equity
$37,431,000
Total Liabilities & Equity
$40,262,000
1. Restructuring activities: Have the companies restructured operations in the last three years?
a) Determine the amount of the expense on the income statement?
b) Are other close competitors also restructuring during this time period?
c) Find the restructuring liability on the balance sheet, does the liability seem reasonable over time?
d) Are there significant reversals of prior accruals? This might indicate shifting.
Walmart
Income Statement
For the year ended January 31, 2018
Walmart
Income Statement
For the year ended January 31, 2017
Details
2018
Details
2017
$
$
Total Revenue
$500,343,000
Total Revenue
$485,873,000
Cost of Revenue
$373,396,000
Cost of Revenue
$361,256,000
Gross Profit
$126,947,000
Gross Profit
$124,617,000
Sales, General and Admin.
$106,510,000
Sales, General and Admin.
$101,853,000
Operating Income
$20,437,000
Operating Income
$22,764,000
Add’l income/expense items
($2,984,000)
Add’l income/expense items
$100,000
Earnings Before Interest and Tax
$17,453,000
Earnings Before Interest and Tax
$22,864,000
Interest Expense
$2,330,000
Interest Expense
$2,367,000
Earnings Before Tax
$15,123,000
Earnings Before Tax
$20,497,000
Income Tax
$4,600,000
Income Tax
$6,204,000
Minority Interest
($661,000)
Minority Interest
($650,000)
Net Income-Cont. Operations
$9,862,000
Net Income-Cont. Operations
$13,643,000
Net Income-
$9,862,000
Net Income-
$13,643,000
Net Income-Applicable to Common Shareholders
$9,862,000
Net Income-Applicable to Common Shareholders
$13,643,000
Explanation / Answer
Company has redeemed it's owner's equity in 2017 by $4000 & in 2018 by $1000 in 2018
ans b
As per given information it can be clearly understaandable that it's competetor company had also restructured it's debt capital during the year 2018.
ans c
And d
Yes there is a reversal amount of $ 29,84,000 being made in the year 2018. which is a significant amount of reversal being made during the year.
Company has redeemed it's owner's equity in 2017 by $4000 & in 2018 by $1000 in 2018
Walmart Walmart Target Target Cost of Revenue $ 373,396,000 $ 361,256,000 $ 51,125,000 $ 49,145,000 Sales, General and Admin. $ 106,510,000 $ 101,853,000 $ 14,248,000 $ 13,356,000 Add’l income/expense items $ (2,984,000) $ 100,000 $ - $ - Interest Expense $ 2,330,000 $ 2,367,000 $ 666,000 $ 1,004,000 Total Operating Expenses $ 479,252,000 $ 465,576,000 $ 66,039,000 $ 63,505,000 Tax Expenses $ 4,600,000 $ 6,204,000 $ 718,000 $ 1,296,000 Total Expenses $ 483,852,000 $ 471,780,000 $ 66,757,000 $ 64,801,000ans b
As per given information it can be clearly understaandable that it's competetor company had also restructured it's debt capital during the year 2018.
ans c
Yes, Below liability has been restructured during the year 2018 2017 Long-Term Debt 286,000 (914,000) Common Stocks (1,000) (4,000)And d
Yes there is a reversal amount of $ 29,84,000 being made in the year 2018. which is a significant amount of reversal being made during the year.
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