Selected hypothetical financial data of Target and Wal-Mart for 2022 are presented here (in millions). Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Target Wal-Mart Corporation Stores, Inc. Income Statement Data for Year $67,000 $413,000 44,000 301,000 14,000 75,000 660 2,200 (70) (410) 1,400 7,000 $ 6,870 $27,390 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Data (End of Year) $17,000 $49,000 26,000 123,000 $43,000 $172,000 $10,000 $54,000 17,400 43,000 15,600 75,000 $43,000 $172,000 Beginning-of-Year Balances $43,000 $162,000 Total assets Tel. 444 Ann Current assets Noncurrent assets Total assets Balance Sheet Data (End of Year) $17,000 $49,000 26,000 123,000 $43,000 $172,000 $10,000 $54,000 17,400 43,000 15,600 75,000 $43,000 $172,000 Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Total assets Total stockholders' equity Current liabilities Total liabilities Beginning-of-Year Balances $43,000 $162,000 14,100 $4,000 10,800 54,000 28,900 98,000 Average net accounts receivable Average inventory Net cash provided by operating activities Capital expenditures Dividends Other Data $7,800 $3,800 7.100 33,400 5,700 27,400 1,800 12,000 450 4.400 Ratio Target Wal-Mart (1) Current ratio 1.7 :1 9 :1 (2) Accounts receivable turnover 8.5 times 108.6 times (3) Average collection period 42.9 days 3.3 days (4) Inventory turnover 6.19 times 9.01 times (5) 58.89 days 40.50 days Days in inventory Profit margin (6) 10.25 % 6.63 % (7) Asset turnover 1.55 times 240 times (8) 15.9 % 17.4 % (9) Return on assets Return on common stockholders equity Debt to assets ratio 44.03 % 36.52 % (10) 67.2 60.49 % (11) Times interest earned 13.53 times 16.63 times (12) Free cash flow 3,900 15,400