Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selected hypothetical financial data of Target and Wal-Mart for 2022 are presented here (in millions). Target Corporation Wal-Mart Stores, Inc. Income Statement Data for

image text in transcribedimage text in transcribed

Selected hypothetical financial data of Target and Wal-Mart for 2022 are presented here (in millions). Target Corporation Wal-Mart Stores, Inc. Income Statement Data for Year Net sales $66,800 $406,000 Cost of goods sold 45,000 305,000 Selling and administrative expenses 14,400 78,000 Interest expense 690 2,000 Other income (expense) (75) (420) Income tax expense 1,300 6,900 Net income $5,335 $ 13,680 Balance Sheet Data (End of Year) Current assets $19,000 $48,000 Noncurrent assets 27,300 121,000 Total assets $46,300 $169,000 Current liabilities $12,000 $55,000 Long-term debt 17,500 44,000 Total stockholders' equity Total liabilities and stockholders' equity 16,800 70,000 $46,300 $169,000 Beginning-of-Year Balances Total assets $45,000 $164,000 Total stockholders' equity Current liabilities Total liabilities 13,800 66,000 10,800 57,000 31,200 98,000 Other Data Average net accounts receivable $8,000 $4,100 Average inventory 7,100 34,000 Net cash provided by operating activities 6,000 25,800 Capital expenditures 1,800 11,500 Dividends 450 3,700 For each company, compute the following ratios. (Round current ratio answers to 2 decimal places, e.g. 15.50, debt to assets ratio and free cash flow answers to O decimal places, e.g. 5,275 and all answers to 1 decimal place, e.g. 1.8 or 1.83%.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-27

Authors: James A. Heintz, Robert W. Parry

22nd Edition

130566616X, 978-1305666160

More Books

Students also viewed these Accounting questions