ncy Wal-Mart Stores, Inc. P14-5 Selected financial data of Target (USA) and Wal-Mart Stores, Inc. (USA) for a recent year are presented below (in millions). Target Corporation Income Statement Data for Year Net sales Cost of goods sold 51,160 Selling and administrative expenses 16,816 91,353 Interest expense 1,126 Other income (expense) (391) 1,132 Income tax expense Net income $ 1,971 $ 16,022 $72,596 $476,294 358,069 2,335 (410) 8,105 Non-current assets Current assets Statement of Financial Position Data (End of Year) $32.980 $143,566 11,573 61,185 $44,553 $204,751 Total assets Total equity Non-current liabilities Current liabilities Total equity and liabilities $16,231 15,545 12.777 $ 81,339 54,067 69,345 $44,553 $204.751 Total assets Total equity Current liabilities Total liabilities Beginning-of-Year Balances $48,163 $203,105 16,558 81.738 14,031 71,818 31,605 131,287 Average net accounts receivable Average inventory Net cash provided by operating activities Other Data $2,921 $ 6,723 8,335 44,331 6,520 23.257 Instructions (a) For each company, compute the following ratios. (1) Current ratio. (5) Days in inventory. (2) Accounts receivable turnover. (6) Profit margin (3) Average collection period. (7) Asset turnover. (4) Inventory turnover. (8) Return on assets. Problems 755 (9) Return on ordinary shareholders' equity, (11) Times interest earned. (10) Debt to assets ratio. (b) Compare the liquidity, profitability, and solvency of the two companies