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ACCT 370 Johanna McLendon Acct 370 Excel Project

Johanna McLendonAcct 370Excel ProjectCompany NameWalmartTicker SymbolWMTIndustryFood and Staples RetailingProducts & ServicesWal-Mart Stores, Inc. is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company oMajor CompetitorsTarget, Costco, Best Buypany offers an assortment of merchandise and services at everyday low prices (EDLP). The Company’s operations are conducted in three segments: Walmart U.S., WaWalmart International and Sam’s Club. The Walmart U.S. segment operates retail stores in all 50 states in the United StatesWAL-MART STORES INC (WMT) INCOMESTATEMENTFiscal year ends in January. USD in millions exceptper share data.RevenueCost of revenueGross profitOperating expensesSales, General and administrativeTotal operating expensesOperating incomeInterest ExpenseOther income (expense)Income before income taxesProvision for income taxesMinority interestOther incomeNet income from continuing operationsNet income from discontinuing opsOtherNet incomeNet income available to common shareholdersEarnings per shareBasicDilutedWeighted average shares outstandingBasicDilutedEBITDA2012-01446,950335,127111,8232013-01469,162352,488116,6742014-01476,294358,069118,2252015-01485,651365,086120,56585,26585,26526,5582,32216224,3987,94468868816,454-67-68815,69915,69988,87388,87327,8012,25118725,7377,98175775717,756-75716,99916,99991,35391,35326,8722,33511924,6568,10567367316,551144-67316,02216,02293,41893,41827,1472,46111324,7997,98573673616,814285-73616,36316,3634.544.525.045.024.94.885.075.053,4603,47434,8503,3743,38936,4893,2693,28335,8613,2303,24336,433WAL-MART STORES INC (WMT)CashFlowFlag BALANCE SHEETFiscal year ends in January. USD in millionsexcept per share data.AssetsCurrent assetsCashCash and cash equivalentsTotal cashReceivablesInventoriesPrepaid expensesOther current assetsTotal current assetsNon-current assetsProperty, plant and equipmentLandFixtures and equipmentOther propertiesProperty and equipment, at costAccumulated DepreciationProperty, plant and equipment, netGoodwillOther long-term assetsTotal non-current assetsTotal assetsLiabilities and stockholders’ equityLiabilitiesCurrent liabilitiesShort-term debtCapital leasesAccounts payableTaxes payableAccrued liabilitiesOther current liabilitiesTotal current liabilitiesNon-current liabilitiesLong-term debtCapital leasesDeferred taxes liabilitiesMinority interestOther long-term liabilitiesTotal non-current liabilitiesTotal liabilitiesStockholders’ equityCommon stockAdditional paid-in capitalRetained earningsAccumulated other comprehensive incomeTotal stockholders’ equityTotal liabilities and stockholders’ equity2012-012013-012014-012015-016,5506,5505,93740,7141,6858954,9757,7817,7816,76843,8031,5889,1359,1356,77845,1412,22459,9407,2817,2816,67744,8581,90946061,18523,49941,91695,523160,938-48,614112,32420,6515,456138,431193,40625,61243,699102,413171,724-55,043116,68120,4975,987143,165203,10526,18445,756106,738178,678-60,771117,90719,5106,149143,566204,75126,26147,851108,522182,634-65,979116,65518,1025,671140,428203,7066,02232636,6081,16418,1542662,30012,39232738,0805,06215,9576,40228738,4103,61316,56071,81811,77330937,4153,52016,2398969,34544,0703,0097,8624,44640459,791122,09138,3943,0237,6135,39551954,944126,76241,7712,7888,0175,0841,49159,151128,49641,0862,6068,8054,54357,040122,3123423,69268,691-1,41071,315193,4063323,62072,978-58776,343203,1053232,36276,566-2,99676,255204,7513232,46285,777-7,16881,394203,70663,27865,272LIQUIDITY RATIOS2012Current RatioQuick Ratio20130.880.220140.830.220150.880.20.970.24LEVERAGE RATIOSDebt to Total Asset RatioDebt Equity RatioLong-Term Debt to EquityTimes Interest Earned Ratio0.6622.7911.510.5418.912.430.5820.411.5624.730.5420.1711.088.74.062.3981.0738.218.344.12.3773.8538.678.084.062.3470.8538.488.114.142.3872.1937.925.025.943.518.3922.454.6113.2524.875.933.328.5723.025.1614.4824.825.643.367.86214.9615.3424.835.593.378.0120.765.0715.91ACTIVITY RATIOSInventory TurnoverFixed Asset TurnoverTotal Asset TurnoverAccounts Rec. TurnoverAverage Collection PeriodPROFITABILITY RATIOSGross Profit MarginOperating Profit MarginNet Profit MarginReturn on Total AssetsReturn on Stockholder’s EquityEarnings Per SharePrice Earnings RatioFor the fiscal year ended 2014(millions, except per share data)TargetCostcoWalmartINCOME STATEMENT(FY 2014)(FY 2014)(FY 2014)(Annual Report GAAP In millions $)(Feb. 3. 2014)(Aug. 31, 2014)(Jan. 31, 2014)Net Sales72,596.00110,212.002,428.003,218.00TOTAL REVENUE72,596.00112,640.00476,294.00Cost of Revenues51,160.0098,458.00358,069.00GROSS PROFIT21,436.0014,182.00118,225.00Selling, Administration, Marketing15,375.0010,899.0091,353.00Net credit revenues-Depriciation & Amortization473,076.002,223.00 -Special charges–Restructuring charges–Other exp. /-income–Spin off transaction-Total operating costs including COS6368,758.00109,420.00449,422.003,838.003,220.0026,872.001,126.001132,335.0090119232,216.0069,493.00109,443.00451,638.003,103.003,197.0024,656.001,132.001,109.008,105.002,088.0016,551.002,088.0016,551.00OPERATING INCOME/-LOSSOther Deductions / – IncomeInterest expenseInterest income-Net interest expense/-income1,126.00Loss/ -Gain on Investment–Income from affiliates–Sale of assets–Financing Loss/ -IncomeOther loss/ -income-391 -TOTAL COSTS & EXPENSES-INCOME /-LOSS BEFORE INCOME TAXESIncome taxes expenses/-benefit1,971.00INCOME AFTER INCOME TAXESNet income/-loss of other equity–INCOME/-LOSS FROM CONT. OPS.1,971.00Accounting change–Discontinued operations–Extraordinary items–NET INCOME/-LOSS1441,971.002,088.00Noncontrolling interests–Prefered dividends–Other-16,695.00-INCOME/-LOSS TO SHAREHOLDER1,971.002,088.0016,695.00EBIT4,229.003,220.0026,872.00EBITD6,452.004,249.0035,742.00EBITDA6,452.004,249.0035,742.00(FY 2014)Basic EPS (excl. extra items)Extraordinary itemsDiluted average shares (Mill. of Units)Dividend per share(Jan. 31, 2014)-4.69-3.1Basic shares outstanding (Mill. of Units)DILUTED NET EPS(FY 2014)(Aug. 31, 2014)3.1BASIC NET EPSEPS other shares(FY 2014)(Feb. 3. 2014)Per Share (GAAP Annual Report, in $)4.69635.1-4.94.9438.693-3,269.00-3.074.654.88641.8442.4853,283.001.571.321.87For the fiscal year ended during 2014TargetCostcoWalmartTGT Balance Sheets(FY 2014)(FY 2014)(FY 2014)(Annual Report, GAAP in millions $)(Feb. 3. 2014)(Aug. 31, 2014)(Jan. 31, 2014)ASSETSCash & cash equivalent6955,738.00Cash, Cash eqvivalents other–Short-term investments-Marketable securities–Restricted cash–Investments Total-7,281.00-1,577.00 1,577.00 -Cash & Shorterm InvestmentsAccounts receivable-Other receivables net—Net Receivables—695Inventories7,315.001,148.008,766.00Assets held for sale-Discontinued operations-Other current assets7,281.006,677.008,456.00—4602,112.00 -Income Taxes-Prepaid expenses44,858.00-669 –1,909.00Total Current Assets11,573.0017,588.0061,185.00Equipment/Property/Plant Net31,378.0014,830.00117,907.00Goodwill net–Intangible Assets—Long-term investments—Accounts Receivable, Net, Noncurrent—Long-term recivables—Income Taxes—Other Assets1,602.0019,510.006066,149.00Pension assets net—Discontinued operations—Total Assets44,553.0033,024.00204,751.00Accounts payable7,683.008,491.0037,415.00Accrued liabilities3,934.003,446.0018,793.00LIABILITIESUnearned revenues-Shorterm debt–1,160.00 -Other current liabilities-Income & other taxes-Liabilities of discontinued operations-Dividends payable-12,082.001,221.00 –9661,254.00-89-Total Current Liabilities12,777.0014,412.0069,345.00Long-term debt12,622.005,093.0041,771.00Long-term convertible-Other Long-term debt-Total Long-term Debt–12,622.002,788.005,093.0044,559.00Pension & postretirement benefits—Employee benefit plans—Deferred credits-Deferred income taxes1,433.00Discontinued operations-1,004.008,017.00Total Liabilities-1,490.00 -Other longterm liabilities–28,322.0020,509.00121,921.002126,575.0016,231.0012,303.0076,255.0044,553.0033,024.00204,751.00SHAREHOLDER’S EQUITYNoncontrolling interests & otherTotal Stockholder’s EquityLiabilities & Stockholder’s Equity-For fiscal year ended during 2014TargetCostcoWalmartIndustryLIQUIDITY RATIOSCurrent RatioQuick Ratio0.910.051.220.510.880.111.030.22Debt to Total Asset RatioDebt Equity RatioLong-Term Debt to EquityTimes Interest Earned Ratio0.641.740.784.070.621.670.4129.290.601.600.5811.560.631.760.6014.095.652.341.6452.58611.487.853.4796.3147.74.062.3677.0658.34.752.4912.39529.39%5.8351.99%4.4212.14%3.1031.712.59%2.965.58%6.516.97%4.6929.7824.82%5.6861.07%7.8321.89%4.9017.821.21%8.2459.556.5617.00%4.3224.15LEVERAGE RATIOSACTIVITY RATIOSInventory TurnoverFixed Asset TurnoverTotal Asset TurnoverAccounts Rec. TurnoverAverage Collection PeriodPROFITABILITY RATIOSGross Profit MarginOperating Profit MarginNet Profit MarginReturn on Total AssetsReturn on Stockholder’s EquityEarnings Per SharePrice Earnings RatioReference: www.csimarket.comWAL-MART STORES INC (WMT) Statement ofCASH FLOWFiscal year ends in January. USD in millions except pershare data.Cash Flows From Operating ActivitiesNet incomeDepreciation & amortizationDeferred income taxes(Gain) Loss from discontinued operationsAccounts receivableInventoryAccounts payableAccrued liabilitiesIncome taxes payableOther working capitalOther non-cash itemsNet cash provided by operating activitiesCash Flows From Investing ActivitiesInvestments in property, plant, and equipmentProperty, plant, and equipment reductionsAcquisitions, netOther investing chargesNet cash used for investing activitiesCash Flows From Financing ActivitiesShort-term borrowingLong-term debt issuedLong-term debt repaymentRepurchases of treasury stockCash dividends paidOther financing activitiesNet cash provided by (used for) financing activitiesEffect of exchange rate changesNet change in cashCash at beginning of periodCash at end of periodFree Cash FlowOperating cash flowCapital expenditureFree cash flowSupplemental schedule of cash flow dataCash paid for income taxesCash paid for interest2012-012013-012014-012015-0115,6998,1301,05067(796)(3,727)2,6875916,9998,501(133)16,0228,870(279)(144)16,3639,173(503)(285)39824,25552725,591(1,667)531103(1,224)(566)93823,257(1,229)2,6781,249166(569)78528,564(13,510)580(3,548)(131)(16,609)(12,898)532(316)71(12,611)(13,115)727(15)105(12,298)(12,174)570671(192)(11,125)3,0195,050(4,939)(6,298)(5,048)(242)(8,458)(33)(845)7,3956,5502,754211(1,478)(7,600)(5,361)(498)(11,972)2231,2316,5507,7819117,072(4,968)(6,683)(6,861)(488)(11,017)(442)(500)7,7817,281(6,288)5,174(3,904)(1,015)(6,785)(2,253)(15,071)(514)1,8547,2819,13524,255(13,510)10,74525,591(12,898)12,69323,257(13,115)10,14228,564(12,174)16,3905,8992,3467,3042,2628,6412,3628,1692,433(614)(2,759)1,061271981For the fiscal year ended 2014TargetCostcoWalmartCash flow Statement(FY 2014)(FY 2014)(FY 2014)(Annual Report, GAAP in millions $)12 Months12 Months12 MonthsIncome1,971.002,088.0016,695.00Depreciation & amortization2,223.001,029.008,870.00-885-563-1,667.00110327Amortization of Other AssetsSpecial chargesAccountig changeOther non-cash ItemsInventories Decrease /-IncreaseMinority InterestsSale of AssetsRestructuringStock based compensationTax benefit on exercise of stock options-84Income taxes-254-63-1,503.00Losses/ -gains on investments netAccounts receivable2,860.00Accounts payable625Accrued liabilities-566529-9531103Postretirement benefitsPrepaid & other current assetsOther Working Capital-90Other assets & liabilities19Other net-50721938Payments for (Proceeds from) OtherOperating ActivitiesDiscontinued operations-144Net Cash flow from Operating Activities6,520.0023,257.00-3,453.00Capital Expenditures3,984.00-1,993.00-13,115.00Sale of Capital ItemsShort-term investments liq.2,406.00Short-term investments acq.-2,503.00Proceeds from other investmentsPurchases of other investmentsNoncontrolling interestProceeds from InvestmentsPurchases of InvestmentsPurchases of non-current assetsAcquisition net of cash acquired-157-15Investment in affiliateSale of businessesProceeds from sale of assetsNotes receivable3,123.00Other130-3105Net Cash flow from Investing Activities-271-2,093.00-12,298.00Short-term debt Net-890619111177,072.00Other NetDiscontinued operationsOther borrowing transactionsLong-term debt – borrowingsLong-term debt – repayments-3,463.00-4,968.00Noncontrolling interest-722Issuances/ -repurchases of Comm. Stock-1,461.00456Exercise of stock options-334-6,683.00-42Issuances/ -repurchases of Pref. StockDiscontinued OperationsOther financing activities net-4-488Other netDividends paid to minority interestsDividends paid-1,006.00-584-6,139.00Net Cash flow from Financing Activities-6,364.00-786-11,017.0026-11-4423,067.001,991.0010,142.00-891,094.00-500Cash & cash equiv. at beg. of the Year7844,644.007,781.00Cash & cash equivalents at end of period6954,644.007,281.00Effect of exchange rate on cash flowDiscontinued operationsFree Cash FlowTotal Cash FlowCash Interests paid-109Cash Income taxes paid-869Wal-Mart Stores Inc., Common-SizeConsolidated Balance Sheet StatementCash and cash equivalentsReceivables, netInventoriesPrepaid expenses and otherCurrent assets of discontinued operationsCurrent assets(FY 2015)(FY 2014)12 Months12 Months4.48%3.56%3.33%3.26%22.16%21.91%1.09%0.93%(FY 2013)(FY 2012)12 Months3.83%3.33%21.57%0.78%12 Months3.39%3.07%21.05%0.92%–31.06%0.22%29.88%–29.51%–28.42%56.10%1.17%57.27%8.89%2.78%68.94%100.00%0.78%18.86%2.43%1.62%1.27%4.07%9.40%0.50%2.36%56.34%1.24%57.59%9.53%3.00%70.12%100.00%3.75%18.27%2.27%1.70%1.25%3.96%9.18%0.47%2.00%56.09%1.35%57.45%10.09%2.95%70.49%100.00%3.35%18.75%2.49%1.66%1.40%3.70%9.26%1.09%2.75%56.67%1.41%58.08%10.68%2.82%71.58%100.00%2.09%18.93%2.63%1.88%1.20%3.69%9.40%0.60%1.02%0.14%0.15%0.16%0.17%Current liabilities of discontinuedoperationsCurrent liabilities–32.04%0.04%33.87%–35.36%–32.21%Long-term debt, excluding due within oneyear20.17%20.40%18.90%22.79%Long-term obligations under capitalleases, excluding due within one yearDeferred income taxes and otherNon-current liabilitiesTotal liabilitiesRedeemable noncontrolling interestCommon stockCapital in excess of par valueRetained earnings1.28%4.32%25.77%57.81%–0.16%1.21%42.11%1.36%3.92%25.68%59.55%0.73%0.16%1.15%37.39%1.49%3.75%24.14%59.50%0.26%0.16%1.78%35.93%1.56%4.07%28.41%60.62%0.21%0.18%1.91%35.52%Accumulated other comprehensiveincome (loss)Total Walmart shareholders’ equityNonredeemable noncontrolling interestTotal equity-3.52%39.96%2.23%42.19%-1.46%37.24%2.48%39.73%-0.29%37.59%2.66%40.24%-0.73%36.87%2.30%39.17%100.00%100.00%100.00%100.00%Property and equipment, net, excludingproperty under capital leasesProperty under capital leases, netProperty and equipment, netGoodwillOther assets and deferred chargesNon-current assetsTotal assetsShort-term borrowingsAccounts payableAccrued wages and benefitsSelf-insuranceAccrued non-income taxesOtherAccrued liabilitiesAccrued income taxesLong-term debt due within one yearObligations under capital leases duewithin one yearTotal liabilities, redeemablenoncontrolling interest, and equityWal-Mart Stores Inc., Common-SizeConsolidated Income StatementGross ProfitMembership and other incomeOperating, selling, general admin expensesOperating IncomeInt. exp., debt and capital leasesInt. incomeInterest NetIncome from Continuing Operations B.I.TProvision from income taxIncome from Continuing OperationsIncome (loss) from discontinued operations,net of income taxConsolidated Net IncomeConsolidated net income attributable tononcontrolling interestConsolidated net income attributable tpWalmart(FY 2014)(FY 2013)(FY 2012)12 MonthsNet SalesCost of Sales(FY 2015)12 Months12 Months12 Months100-75.7124.29%0.71-1937.00%5.63%-0.510.02-0.49%5.14%-1.663.49%100-75.6924.31%0.68-19.315.68%-0.490.03-0.47%5.21%-1.713.50%100-75.6224.38%0.65-19.075.96%-0.480.04-0.44%5.52%-1.713.81%100-75.524.50%0.7-19.215.98%-0.520.04-0.49%5.50%-1.793.71%0.063.55%0.033.53%3.81%-0.023.69%-0.15-0.14-0.16-0.163.39%3.39%3.65%3.54%Horizontal Analysis Balance SheetWalmart Stores, Inc.*in millions2015ASSETSCurrent assets:Cash and cash equivalentsReceivablesInventoriesPrepaid expenses and otherCurrent assets of discontinued operationsTotal current assetsProperty and equipment, at costLess accumulated depreciationProperty and equipment, netProperty under capital leaseLess accumulated amortizationProperty under capital lease, netGoodwillOther assets and deferred chargesTotal assetsLIABILITIES AND SHAREHOLDERS EQUITYCurrent liabilities:Short-term borrowingsAccounts payableAccrued liabilitiesAccrued income taxesLong-term debt due within one yearObligations under capital leases due within one yearCurrent liabilities of discontinued operationsTotal current liabilitiesLong-term debtLong-term obligations under capital leasesDeferred income taxes and otherRedeemable non-controlling interestCommitments and contingenciesShareholders equity:Common stockCapital in excess of par valueRetained earningsAccumulated other comprehensive income (loss)Total Walmart shareholders’ equityNoncontrolling interestTotal equityTotal liabilities and shareholders equity2014$9,1356,77845,1412,2240$7,2816,67744,8581,909460Increase(Decrease)% Increase(Decrease)$63,278$61,185177,395(63,115)114,2805,239(2,864)2,37518,1025,671173,089(57,725)115,3645,589(3,046)2,54319,5106,149$203,706$204,751$1,854$101$283$315-$460$2,093$4,306-$5,390-$1,084-$350$182-$168-$1,408-$478-$1,04525.46%1.51%0.63%16.50%-100.00%3.42%2.49%9.34%-0.94%-6.26%-5.98%-6.61%-7.22%-7.77%-0.51%$1,59238,41019,1521,0214,810287065,27241,0862,6068,80500$7,67037,41518,7939664,1033098969,34541,7712,7888,0171,4910-$6,078$995$359$55$707-$22-$89-$4,073-$685-$182$788-$1,491$0-79.24%2.66%1.91%5.69%17.23%-7.12%-100.00%-5.87%-1.64%-6.53%9.83%-100.00%0.00%3232,46285,777(7,168)81,3944,54385,937$203,7063232,36276,566(2,996)76,2555,08481,339$204,751$0$100$9,211-$4,172$5,139-$541$4,598-$1,0450.00%4.23%12.03%139.25%6.74%-10.64%5.65%-0.51%Horizontal Analysis Income StatementsWalmart Stores, Inc.*in millions2015Revenues:Net salesMembership and other incomeTotal RevenueCosts and expenses:Cost of salesOperating, selling, general and administrative expensesOperating incomeInterest:DebtCapital leasesInterest expenseInterest incomeInterest, netIncome from continuing operations before income taxesProvision for income taxes:CurrentDeferredTotal provision for income taxesIncome from continuing operationsIncome (Loss) from discontinued operations, net of taxConsolidated net incomeConsolidated net income attributable to noncontrolling intereConsolidated net income attributable to Walmart2014$482,2293,422$473,0763,218485,651Increase(Decrease)% Increase(Decrease)476,294$9,153$204$9,3571.93%6.34%1.96%365,08693,41827,147358,06991,35326,872$7,017$2,065$2751.96%2.26%1.02%2,1613002,461(113)2,34824,7992,0722632,335(119)2,21624,656$89$37$126$6$132$1434.30%14.07%5.40%-5.04%5.96%0.58%8,504(519)7,98516,81428517,099(736)$16,3638,619(514)8,10516,55114416,695(673)$16,022-$115-$5-$120$263$141$404-$63$341-1.33%0.97%-1.48%1.59%97.92%2.42%9.36%2.13%INCOME STATEMENT*in millionsRevenueBrick-Mortar StoresE-CommerceTotal RevenueCost of Goods SoldGross ProfitSelling General & Admin Exp.R&D Exp.Depreciation & Amort.Other Operating Exp., TotalOperating IncomeInterest ExpenseInterest and Invest. IncomeNet Interest Exp.Earnings Before TaxesIncome Tax ExpenseMinority Int. in EarningsNet IncomeHistorical Data2013Projected Data20152016485,651505,077470,459.8488,591.215,191.216,485.8485,651505,077.0365,086379,692.1120,565125,384.993,41896,524.9469,162352,297116,86588,6292014476,294464,33911,955476,294358,069118,22591,35388,62991,35393,41896,524.9100,385.9105,405.228,236(2,249)186(2,063)26,1737,958(757)16,99926,872(2,335)119(2,216)24,6568,105(673)16,02227,147(2,461)113(2,348)24,7997,985(736)16,36328,860.0(2,471.9)140.9(2,331.0)26,529.08,085(588)17,856.0030,014.4(2,475.3)168.7(2,306.5)27,707.98,921.6(682)18,104.2031,515.1(2,479.7)196.6(2,283.1)29,232.09,412.4(791.1)19,028.50469,1622017525,281.1507,963.117,317525,280.1394,879.8130,400.3100,385.92018551,544.1533,359.618,184.5551,544.1414,623.8136,920.3105,405.2BALANCE SHEET*in millionsCash & EquivalentsTrading Asset SecuritiesAccounts ReceivableInventoryPrepaid Exp.Deferred Tax Assets, CurrentOther Current AssetsTotal Current AssetsGross Property, Plant & Equip.Accumulated Dep.Net Property, Plant & EquipmentLong-term InvestmentsGoodwillOther IntangiblesDeferred Tax Assets, LTOther Long-term AssetsTotal AssetsAccounts PayableAccrued Exp.Short-term BorrowingsCurr. Port. Of LT DebtCurr. Port. Of Cap. LeasesCurr. Income Taxes PayableOther Current LiabilitiesTotal Current LiabilitiesLong-term DebtAdditional Funds NeededCapital LeasesPensionDef. Tax Liability, Non-Curr.Other Non-Current LiabilitiesTotal LiabilitiesCommon StockAddditional Paid in CapitalRetained EarningsTreasury StockComprehensive Inc. & OtherTotal Common EquityMinority InterestTotal EquityTotal Liabilities and EquityHistorical Data20137,781296,76843,8031,0025203759,940171,724(55,043)116,68158120,49707574,649203,10538,08018,8046,8055,5913272,211071,81838,485,020147,28156,67744,8581,08582246061,185178,678(60,771)117,90771919,51001,1514,282204,75437,41518,7937,6704,1033099668969,34541,772,020159,13506,77845,1411,496728063,278182,634(65,979)116,65551218,1024191,0333,707203,70638,41019,1521,5924,8102871,021065,27241,696,03,023,0684,04,373,02,465,0126,762332,03,620,072,978,00(587,0)76,343,05,914,082,257,0203,1052,788,0350,05,110,02,556,0128,496323,02,362,076,566,00(2,996,0)76,255,06,575,082,830,0204,7512,606,0308,04,671,03,216,0122,312323,02,462,085,777,00(7,168,0)81,394,04,546,085,937,0203,706Projected Data20169,500,4186,917,945,771,11,263,9550,8175,564,198,5200,287,02(68,308,3)131,978,7649,920,875,2150,51,056,54,540,1…

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That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

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Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

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Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

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Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

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Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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We Can Handle your Online Class from as low as$100 per week