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Selected financial data of two competitors, Target and Wal-Mart, are presented here. (All dollars are in millions.) Suppose the data were taken from the
Selected financial data of two competitors, Target and Wal-Mart, are presented here. (All dollars are in millions.) Suppose the data were taken from the 2022 financial statements of each company. Target (1/31/22) Wal-Mart (1/31/22) Income Statement Data for Year Net sales $71,000 $426,000 Cost of goods sold 42,600 319,500 Selling and administrative expenses 17,750 72,420 Interest expense 710 4,260 Other income 201 4,300 Income taxes 3,486 11,942 Net income $6,474 $22,178
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