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Provide the story behind your analysis of 5-year proforma forecast of the income statement for Walmart based on the spreadsheet. Your analysis will include why you chose the specific rate changes you did in your version of the spreadsheet. You will also provide an analysis of the impact your assumptions had on the value of Walmart.

Students, you change the numbers above in RED to reflect your analysis of the company the value of the
company will update based on you assumptions

Walmart 2019 Ratios \begin{tabular}{l|l|r} \hline \multicolumn{1}{|c|}{ Profitability } & \\ \hline Profit Margin on Sales & Net Income/Sales & 2.81% \\ \hline Return on Assests & Net Income/Total Assets & 6.86% \\ \hline Return on Equity & Net Income/Common Equity & 17.54% \\ \hline Market Value & & \\ \hline Price Earnings Ratio & Price of Shares/Earning Per Share & 14.92 \\ \hline Market/Book & Market Price/Book Value (Per Share & 2.58 \\ \hline \end{tabular} Walmart -. Pro Forma Income Statements (\$ in millions) MA\&\&A - Current Value Estimate - 2019 Actual Terminal Value \begin{tabular}{|r|r|r|r|r|r|r|} \hline 23.00% & $4.790 & $5.033 & $5.134 & $5.237 & $5.341 & $5.448 \\ \hline$12.367 & $16.850 & $17.187 & $17.531 & $17.882 & $18.239 \\ \hline$4.19 & $5.71 & $5.83 & $5.94 & $6.06 & $6.18 \\ \hline \end{tabular} Cash Flows Shares Outstanding 2,950,000,000 Value Per Share $109.41 Based on your growth, PE, WACC, and Outstanding Shares Assumptions this is your valuation of Walmart's shares Students, you change the numbers above in RED to reflect your analysis of the company ... the value of the

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