1. Find the 2022 annual balance sheets and income statements for Target and Walmart (which were available under 2023). Download them from www.morningstar.com. Enter each companys stock symbol and then go to financials. Export the statements to Excel by clicking the export button.

2. Construct the ratio table such as Table 4-7 on p.106. The table should include ratios for:

Profitability Ratios

Return on assets (ROA)

Return on capital (ROC)

Return on equity (ROE)

operating profit margin

Efficiency Ratios

Asset turnover

Fix-asset turnover

Receivables turnover

Average collection period (days)

Inventory turnover

Days in inventory

Leverage Ratios

Long-term debt ratio

Long-term debt-equity ratio

Total debt ratio

Times interest earned

Liquidity Ratios

Net working capital to assets

Current ratio

Quick ratio

Cash ratio