or their 2012 and 2011 fiscal years. COSTCO WHOLESALE CORPORATION Selected Financial Information (Amounts in millions, except per share amounts) Total current assets Merchandise inventory Property and equipment, net of depreciation Total assets Total current liabilities Total long-term liabilities Total liabilities Total shareholders equity Revenue Cost of goods sold Gross profit Operating income Earnings from continuing operations before income tax expense Income tax expense Net earnings Basic earnings per share September 2, 2012 $13,526 7,096 12,961 27,140 12,260 2,362 14,622 12,518 August 28, 2011 $13,706 6,638 12,432 26,761 12,050 2,138 14,188 12,573 99,13788,915 $ 86,823 12,314 2,759 2,767 1,000 1,767 3.94 77,739 11,176 2,439 2,383 841 1,542 $ 3.35

WAL-MART STORES, INC. Selected Financial Information (Amounts in millions except per share data) Total current assets Merchandise inventory Property and equipment, net of depreciation Total assets Total current liabilities Total long-term liabilities Total liabilities Total stockholders equity Revenues Cost of goods sold Gross profit Operating income Earnings from continuing operations before income taxes Income tax expense Net earnings Basic earnings per share January 31, 2012 $ 54,975 40,714 112,324 193,406 62,300 55,345 117,645 75,761 January 31, 2011 $ 51,893 36,318 107,878 180,663 58,484 50,932 109,416 71,247 446,950421,849 $ 335,127 111,823 26,558 24,398 7,944 16,387 4.56 315,287 106,562 25,542 23,538 7,579 16,993 $ 4.20

Compute the following ratios for the companies 2012 fiscal years:

(1) Current ratio.

(2) Average days to sell inventory. (Use average inventory.)

(3) Debt to assets ratio. (4) Return on investment. (Use average assets and use earnings from continuing operations rather than net earnings.) (5) Gross margin percentage. (6) Asset turnover. (Use average assets.) (7) Returnonsales.(Useearningsfromcontinuingoperationsratherthannetearnings.) (8) Plant assets to long-term debt ratio. b. Which company appears to be more profitable? Explain your answer and identify which ratio(s) from Requirement a you used to reach your conclusion. c. Which company appears to have the higher level of financial risk? Explain your answer and identify which ratio(s) from Requirement a you used to reach your conclusion. d. Which company appears to be charging higher prices for its goods? Explain your answer and identify which ratio(s) from Requirement a you used to reach your conclusion. e. Which company appears to be the more efficient at using its assets? Explain your answer and identify which ratio(s) from Requirement a you used to reach your conclusion.