The following sheet contains the condensed income statement and the balance sheet for Target Corporation (TGT). The page after that contains the financial ratios for Wal-Mart Stores Inc. (WMT).

a. Using this information and the formula sheet provided, calculate two of the liquidity ratios, two of the leverage ratios, two of the efficiency ratios, and two of the profitability ratios we covered in class for the year 2016 for Target

b. Correctly interpret the ratios you calculated by providing a written explanation of each ratio and compare them to those of Wal-Mart.

Table I - Target Corporation: Income Statement [millions of dollars) Year ending January 30 2016 2015 Revenues $ TJJES T1618 Costs and Expenses: Cost ofgoods sold 5 51,997 51,278 Operating, selling and admin expenses 5 14,665 14,676 Depreciation and amortization 5 2,213 2,129 Interest Costs: $ 607 882 Income Before Income Taxes 5 4,923 3.653 Provision for Income Taxes 3 1,602 1,204 Net Income 5 3,321 2,449 Table ] - Balance Sheet : Target Corporation ( All figures in millions ) Period Ending. January 30 2014 2015 Current Assets Cash and Cash Equivalents 1. 038 (164 Short - Term Investments* 3. 0^ 1. 5201 Net Receivables 375 379 Inventory &. G`1 8, 282 Other Current ASSETS 1 . 108 2. 753 Total Current Assets 14 .130 13. 6:24 Long - Term Assets Fixed ASSETS 25. 217 25, 415 2 Good will and intangible assets* 133 5 147 Intangible assets \\# ## # # # 145 195 Other Assets 782 1 , 449 Total Long - Term Assets 26. 132 27. 548 Total Assets $ 40. 202 5 41 . 172 Current Liabilities Accounts Payable 7. 418 7 . 759 Short - Term Debt !' Current Portion of Long - Term Debt $15 5 41 Other Current Liabilities* 4. 389 3. 8 8^ Total Current Liabilities $ 12. 6: 27 1 1 , 736 Long - Term Liabilities Long - Term Debt 11. 945 12, 6:34 Other Liabilities 1. 875 1. 6:45 Deferred income taxes 5. 1 . 1 60 Total Long - Term Liabilities 14. 6:183 15, 439 Total Liabilities $ 27. 3:05 5 27, 175 Stockholders " Equity Common Stock Additional Paid - in Capital 5. 3:48 5 5 Retained Earnings 8. 18 8 Other Equity 1 6:29) 1594) Total Stockholder's Equity 12.957 13. 997 Total Liabilities & Equity* 40. 262 \\41. 172Table ] - Walmart Ratios Wal - Mart 2010 2011.5 Current Ratio 21.47 U.BB Quick Ratio 0. 27 0.25 Long-term debt ratio 20. 17^ Long - term debt to equity ratio 54. 0^ 58.0101%/} Times Interest Earned 12.43 12.01 1 Inventory turnover* 8.11 8.08 Total assets tumover* 2.38 2.34 Account receivable turnover* 72.19 Net profit margin 5. 59%/} Return on total assets* 8.01 %/} 7. 8^ Return on stockholders" equity* 20. 76` 21. 0^