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Suppose selected financial data of Target and Walmart for 2022 are as follows (in millions). Target Corporation Walmart, Inc. Income Statement Data for Year
Suppose selected financial data of Target and Walmart for 2022 are as follows (in millions). Target Corporation Walmart, Inc. Income Statement Data for Year Net sales $67,000 $413,000 Cost of goods sold 44,000 301,000 Selling and administrative expenses 14,000 75,000 Interest expense 660 2,200 Other income (expense) (70) (410) Income tax expense 1,400 7,000 Net income $6,870 $27.390 Balance Sheet Data (End of Year) Current assets $17,000 $49,000 Noncurrent assets 26,000 123,000 Total assets $43,000 $172,000 Current liabilities $10,000 $54,000 Long-term debt 17,400 43.000 Total stockholders' equity 15,600 75,000 Total liabilities and stockholders' equity $43,000 $172,000 Beginning-of-Year Balances Total assets $43,000 $162.000 Total stockholders' equity 14,100 64,000 Current liabilities 10,800 54,000 Total liabilities 28,900 98,000 Other Data Average net accounts receivable. $7,800 $3,800 Average inventory 7,100 33,400 Net cash provided by operating activities 5,700 27.400 Capital expenditures 1.800 12,000 Dividends 450 4,400
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