Analysis and Interpretation of Liquidity and Solvency Refer to the financial information for Target Corporation (TGT), presented below to answer the following.

Target Corporation Balance Sheets
($ millions)	January 28, 2012	January 29, 2011
Assets
Cash and cash equivalents	$1,794	$2,712
Accounts receivable, net	6,927	7,153
Inventory	7,918	7,596
Other current assets	1,810	1,752
Total current assets	18,449	19,213
Property and equipment, net	27,149	23,493
Other noncurrent assets	1,032	999
Total assets	$46,630	$43,705
Liabilities and shareholders' investment
Accounts payable	$6,857	$6,625
Accrued liabilities	3,644	3,326
Current portion of long-term debt and notes payable	3,786	119
Total current liabilities	14,287	10,070
Long-term debt	15,697	13,607
Deferred income taxes	1,191	934
Other noncurrent liabilities	1,634	1,607
Total shareholders' investment	13,821	17,487
Total liabilities and shareholders' investment	$46,630	$43,705

Target Corporation Income Statement
($ millions)	Fiscal year ended January 28, 2012
Sales	$69,666
Net credit card revenues	1,399
Total revenues	71,065
Cost of sales	47,860
Selling, general and administrative expenses	14,106
Credit card expenses	446
Depreciation and amortization	2,131
Earnings before interest expense and income taxes	6,522
Net interest expense	866
Earnings before income taxes	5,656
Provision for income taxes	1,527
Net earnings	$4,129

a. Compute Target's current ratio and quick ratio for 2012 and 2011. (Round your answers to one decimal place.) 2012 Current Ratio Answer 2011 Current Ratio Answer 2012 Quick Ratio Answer 2011 Quick Ratio Answer b. Compute Target's times interest earned for the year ended January 28, 2012, and its debt-to-equity ratios for 2012 and 2011. Interest income for this year was $3 million, so interest expense was $869 million. (Round your answers to one decimal place.) 2012 Times Interest Earned Answer 2012 Debt-to-Equity Ratio Answer 2011 Debt-to-Equity Ratio Answer