SHORT-TERM LIQUIDITY RATIOS. The financial statements for Dayton Hud- son Corporation (a retailer operating Dayton’s, Hudson’s, Marshall Field, Target, and Mervyn’s) appear below:

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Consolidated Results of Operations Dayton Hudson Corporation and Subsidiaries (Millions of Dollars, Except Per Share Data) Revenues Costs and Expenses Cost of retail sales, buying and occupancy Selling, publicity and administration Depreciation Interest expense, net Taxes other than income taxes Total Costs and Expenses Earnings Before Income Taxes Provision for Income Taxes Net Earnings 1993 1992 1991 $19,233 $17,927 $16,115 14,164 13.129 11,751 3,175 2,978 2,801 498 459 410 446 437 398 343 313 283 18,626 17,316 15,643 607 611 472 232 228 171 $ 375 $ 383 $ 301