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5. Use Walmart's condensed financial statements on Canvas to compute its inventory turnover ratios for 2021 and 2022. Which of the following is correct regarding Walmart's inventory liquidity? (a) Walmart's inventory liquidity in 2021 was higher than in 2022. O (d) Walmart's inventory liquidity in 2022 was higher than in 2021. O (c) Walmart's inventory liquidity is the same in 2021 and 2022. O (d) There is insufficient information to compute Walmart's inventory liquidity.

5. Use Walmart's condensed financial statements on Canvas to compute its inventory turnover ratios for 2021 and 2022. Which of the following is correct regarding Walmart's inventory liquidity? (a) Walmart's inventory liquidity in 2021 was higher than in 2022. O (d) Walmart's inventory liquidity in 2022 was higher than in 2021. O (c) Walmart's inventory liquidity is the same in 2021 and 2022. O (d) There is insufficient information to compute Walmart's inventory liquidity.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
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Question 5 2.5 pts 5. Use Walmart's condensed financial statements on Canvas to compute its inventory turnover ratios for 2021 and 2022. Which of the following is correct regarding Walmart's inventory liquidity? O (a) Walmart's inventory liquidity in 2021 was higher than in 2022. O (d) Walmart's inventory liquidity in 2022 was higher than in 2021. O (c) Walmart's inventory liquidity is the same in 2021 and 2022. O (d) There is insufficient information to compute Walmart's inventory liquidity.
Transcribed Image Text:Question 5 2.5 pts 5. Use Walmart's condensed financial statements on Canvas to compute its inventory turnover ratios for 2021 and 2022. Which of the following is correct regarding Walmart's inventory liquidity? O (a) Walmart's inventory liquidity in 2021 was higher than in 2022. O (d) Walmart's inventory liquidity in 2022 was higher than in 2021. O (c) Walmart's inventory liquidity is the same in 2021 and 2022. O (d) There is insufficient information to compute Walmart's inventory liquidity.
Condensed balance sheet and income statement data are presented here. Assets: Current assets: Cash and cash equivalents Short-term investments Rreceivables (net) Inventory Other current assets Total current assets Property, plant, and equipment (net) Lease and other long-term assets Total assets Liabilities and Equity Liabilities: Current liabilities Long-term debt Lease and other long-term liabilities Total Liabilities Equity: Common stock Paid-in capital in excess of par value Retained Earnings Accumulated other comprehensive income (loss) Noncontrolling interest Total Equity Total liabilities and equity Walmart Inc. Condensed Balance Sheet (Amounts in millions) As of January 31 Net sales and other revenue Cost of goods sold Gross profit Operating expenses Operating income Non-operating income (loss) Income before income taxes Less: Provision for income taxes Less: Consolidated net income attributable to noncontrolling interest Net income $ Weighted-average common shares outstanding (in millions): Basic earnings per common share: 2022 $ 14,760 $ 8,280 56,511 1,519 81,070 87,379 $ 34,864 30,726 152,969 276 4,839 86,904 (8,766) 8,638 Walmart Inc. Condensed Income Statement (Amounts in millions, except per share data) Fiscal Years Ended January 31 2021 94,515 92,201 105,208 69,275 70,228 69,481 $ 244,860 $ 252,496 $ 236,495 17,741 $ 6,516 44,949 20,861 90,067 $ Cash dividends declared on common stock Additional information: The company has no preferred stocks. 31,126 164,965 282 3,646 88,763 2020 92,645 $ 77,790 41,194 43,714 33,439 154,943 9,465 (11,766) 6,606 (12,805) 6,883 91,891 87,531 81,552 $ 244,860 $ 252,496 $ 236,495 6,284 44,435 1,622 61,806 2,792 ??? 284 3,247 83,943 2022 2021 $ 572,754 $ 559,151 429,000 420,315 143,754 138,836 117,812 116,288 25,942 22,548 (7,246) (1,984) 18,696 (4,756) (267) (196) $ 13,673 $13,510 20,564 (6,858) 2,831 ??? 6,152 $ 6,116 Condensed balance sheet and income statement data are presented here. Assets: Current assets: Cash and cash equivalents Short-term investments Receivables (net) Inventory Costco Wholesale Corporation Condensed Balance Sheet (Amounts in millions) As of August 31 2022 Other current assets Total current assets Property, plant, and equipment (net) Lease and other long-term assets Total assets Liabilities and Equity Liabilities: Current liabilities Long-term debt Lease and other long-term liabilities Total Liabilities Equity: Common stock Paid-in capital in excess of par value Retained Earnings Accumulated other comprehensive income (loss) Noncontrolling interest Total Equity Total liabilities and equity Operating expenses Operating income Net sales and other revenue Cost of goods sold Gross profit $ Non-operating income (loss) Income before income taxes mcon Less: Provision for income taxes Less: Consolidated net income attributable to noncontrolling interest Net income $ Weighted-average common shares outstanding (in millions): Basic earnings per common share: $ $ 10,203 $ 846 2,241 17,907 1,499 32,696 24,646 6,824 64,166 $ 31,998 $ 6,484 5,037 43,519 2 6,884 15,585 (1,829) 5 Costco Wholesale Corporation Condensed Income Statement 20,647 64,166 $ (Amounts in millions, except per share data) Fiscal Years Ended August 31 2021 $ $ Cash dividends declared on common stock Additional information: The company has no preferred stocks. 11,258 $ 12,277 917 1,028 1,803 1,550 12,242 1,023 28,120 21,807 5,629 55,556 14,215 1,312 29,505 23,492 6,271 59,268 $ 29,441 $ 6,692 5,057 41,190 4 7,031 11,666 (1,137) 514 (1,297) 421 18,705 59,268 $ 55,556 18,078 2022 2021 $ 226,954 $ 195,929 199,382 170,684 27,572 19,779 7,793 47 7,840 (1,925) (71) 5,844 $ 2020 444 ??? 24,844 7,514 4,493 36,851 1,498 $ 4 6,698 12,879 25,245 18,537 6,708 (28) 6,680 (1,601) (72) 5,007 443 ??? 5,748
Transcribed Image Text:Condensed balance sheet and income statement data are presented here. Assets: Current assets: Cash and cash equivalents Short-term investments Rreceivables (net) Inventory Other current assets Total current assets Property, plant, and equipment (net) Lease and other long-term assets Total assets Liabilities and Equity Liabilities: Current liabilities Long-term debt Lease and other long-term liabilities Total Liabilities Equity: Common stock Paid-in capital in excess of par value Retained Earnings Accumulated other comprehensive income (loss) Noncontrolling interest Total Equity Total liabilities and equity Walmart Inc. Condensed Balance Sheet (Amounts in millions) As of January 31 Net sales and other revenue Cost of goods sold Gross profit Operating expenses Operating income Non-operating income (loss) Income before income taxes Less: Provision for income taxes Less: Consolidated net income attributable to noncontrolling interest Net income $ Weighted-average common shares outstanding (in millions): Basic earnings per common share: 2022 $ 14,760 $ 8,280 56,511 1,519 81,070 87,379 $ 34,864 30,726 152,969 276 4,839 86,904 (8,766) 8,638 Walmart Inc. Condensed Income Statement (Amounts in millions, except per share data) Fiscal Years Ended January 31 2021 94,515 92,201 105,208 69,275 70,228 69,481 $ 244,860 $ 252,496 $ 236,495 17,741 $ 6,516 44,949 20,861 90,067 $ Cash dividends declared on common stock Additional information: The company has no preferred stocks. 31,126 164,965 282 3,646 88,763 2020 92,645 $ 77,790 41,194 43,714 33,439 154,943 9,465 (11,766) 6,606 (12,805) 6,883 91,891 87,531 81,552 $ 244,860 $ 252,496 $ 236,495 6,284 44,435 1,622 61,806 2,792 ??? 284 3,247 83,943 2022 2021 $ 572,754 $ 559,151 429,000 420,315 143,754 138,836 117,812 116,288 25,942 22,548 (7,246) (1,984) 18,696 (4,756) (267) (196) $ 13,673 $13,510 20,564 (6,858) 2,831 ??? 6,152 $ 6,116 Condensed balance sheet and income statement data are presented here. Assets: Current assets: Cash and cash equivalents Short-term investments Receivables (net) Inventory Costco Wholesale Corporation Condensed Balance Sheet (Amounts in millions) As of August 31 2022 Other current assets Total current assets Property, plant, and equipment (net) Lease and other long-term assets Total assets Liabilities and Equity Liabilities: Current liabilities Long-term debt Lease and other long-term liabilities Total Liabilities Equity: Common stock Paid-in capital in excess of par value Retained Earnings Accumulated other comprehensive income (loss) Noncontrolling interest Total Equity Total liabilities and equity Operating expenses Operating income Net sales and other revenue Cost of goods sold Gross profit $ Non-operating income (loss) Income before income taxes mcon Less: Provision for income taxes Less: Consolidated net income attributable to noncontrolling interest Net income $ Weighted-average common shares outstanding (in millions): Basic earnings per common share: $ $ 10,203 $ 846 2,241 17,907 1,499 32,696 24,646 6,824 64,166 $ 31,998 $ 6,484 5,037 43,519 2 6,884 15,585 (1,829) 5 Costco Wholesale Corporation Condensed Income Statement 20,647 64,166 $ (Amounts in millions, except per share data) Fiscal Years Ended August 31 2021 $ $ Cash dividends declared on common stock Additional information: The company has no preferred stocks. 11,258 $ 12,277 917 1,028 1,803 1,550 12,242 1,023 28,120 21,807 5,629 55,556 14,215 1,312 29,505 23,492 6,271 59,268 $ 29,441 $ 6,692 5,057 41,190 4 7,031 11,666 (1,137) 514 (1,297) 421 18,705 59,268 $ 55,556 18,078 2022 2021 $ 226,954 $ 195,929 199,382 170,684 27,572 19,779 7,793 47 7,840 (1,925) (71) 5,844 $ 2020 444 ??? 24,844 7,514 4,493 36,851 1,498 $ 4 6,698 12,879 25,245 18,537 6,708 (28) 6,680 (1,601) (72) 5,007 443 ??? 5,748
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