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Problem 13-SA (Essay) Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Target Wal-Mart Stores, Inc. Corporation Income Statement

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Problem 13-SA (Essay) Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Target Wal-Mart Stores, Inc. Corporation Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $65,357 45,583 15,101 707 $408,214 304,657 79,607 2,065 (94) (411) 1,384 $2,488 7,139 s 14,335 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity $18,424 26,109 $44,533 $11,327 17,859 15,347 $44,533 $ 48,331 122,375 $170,706 $ 55,561 44,089 71,056 $170,706 Beginning of-Year Balances Total assets Total stockholders' equity Current liabilities Total liabilities $44,106 13,712 10,512 30,394 $163,429 65,682 55,390 97,747

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