Analyze Target for three years

Target Corporation (TGT) is one of the largest retailers in the United States. Target operates over 1,800 stores that sell a wide assortment of merchandise, including a variety of grocery items.

Target recently reported the following end-of-year balance sheet data (in millions):

Line Item DescriptionYear 3Year 2Year 1Total assets$41,290$40,303$37,431Total liabilities29,99328,65226,478Total stockholders equity11,29711,65110,953

a.Compute the ratio of liabilities to stockholders equity for all three years. Round to two decimal places.