Financial Ratios Profitability Return on sales Return on equity Target Corporation 2013 Target Canada Nine months ended 2014 There is an error in the balance sheet for Target Canada- here is a corrected Nabilities & shareholders' Investment section Liabilities and shareholders' investment Accounts payable Liquidity Current Ratio Quick ratio 421,874 Intercompany payable to Target Brands 15,249 Intercompany payable to Property LLC Total Accounts Payable 109,303 546,325 Accrued and other current liabilities 138748 Current portion of long-term debt and other borrowings 688,676 Total current liabilities 1,363,749 Long-term debt and other borrowings 1,335,641 Intercompany long-term debt 3,068,728 Other non current liabilities Activity Inventory turnover Leverage Debt:Equity Debt: Total Assets Total non current liabilities Shareholders' investment Additional paid-in-capital Retained earnings 15,130 4,429,499 2,536,88 (2.911444) (384,756) Total liabilities and shareholders' investment, 5,408,492 Total shareholders' investment Target Canada Income Statement Projection for 12 months ended February 1, 2015 CAD in thousands Revenues Sales Net Sales Cost of sales Gross Profit $ 1,930,697 $ 1,930,697 $ 1,576,811 $ 353,886 Operating expenses Selling, general and administrative expenses Depreciation and amortization $ 1,207,691 $ 200,299 Total operating expenses $ 1,407,990 Losses before interest expense and income taxes $ (1,054,104) Net interest expense $ 201,565 Losses before income taxes $ (1,255,669) Provision for income taxes $ (322,637) Net loss $ (933,032) EXHIBIT 1: TARGET CORPORATION'S FINANCIAL STATEMENT, 2013 FINANCIAL RESULTS: (in millions) 2013 2012 Sales 72,596 71,960 Credit Card revenues 1,341 Total Revenue 72,596 73,301 Cost of sales 51,160 50,568 Gross margin 21,436 22,733 Selling, general and administrative expenses 15,375 14,914 Credit card expenses 467 Depreciation and amortization 2,223 2,142 Gains on receivables transaction (391) (161) EBIT 4,229 5,371 Net interest expense 1,126 762 Provision for income taxes 1,132 1,610 Net Earnings 1,971 2,999 FINANCIAL POSITION: (in millions) Assets Cash and cash equivalents Inventory Accounts Receivable Current Assets Total Assets 695 784 8,766 7,903 5,841 11,573 16,388 44,553 48,163 Liabilities Accounts Payable 7,683 7,056 Current Liabilities 12,777 14,031 Long-term Debt (including current portion) 13,782 17,648 Total Liabilities 28,322 31,605 Total shareholder's investment 16,231 16,558 US SEGMENT FINANCIAL RATIOS Comparable sales growth Gross margin (% of sales) SG&A (% of sales) EBIT margin (% of sales) -0.4% 2.7% 29.8% 29.7% 20.0% 19.1% 7.0% 7.8% CANADIAN SEGMENT FINANCIAL RATIOS Comparable sales growth NA Gross margin (% of sales) 14.9% SG&A (% of sales) 69.1% EBIT margin (% of sales) -71.5% OTHER: Total number of stores 1,917 1,778 General Merchandise Expanded food assortment 289 391 1,245 1,131 SuperTarget 251 251 CityTarget 8 Canada 124 : US$1.00 Cdn$1.16. rics from Target, Annual Report 2013, https://corporate.target.com/annual-reports/2013. y YING HAN HUANG in WSU BA100 Introduction to Business Fall 2022- Case Only taught by Hana Johnson, Washin 2022 to Jan 2023. For the exclusive use of Y. HU EXHIBIT 2: WALMART'S FINANCIAL STATEMENT, 2013 FINANCIAL RESULTS: (in millions) 2013 2012 US Walmart Sales 274,490 264,186 US Sam's Club Sales 56,423 53,795 International Sales 135,201 125,873 Total Revenue (Consolidated) 466,114 443,854 US Walmart Operating Income 21,500 20,391 US Sam's Club Operating Income 1,963 1,848 International Operating Income 6,694 6.182 9B1