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Statement of Operations (Income Statement) Statement of Operations (Income Statement) TARGET WALMART 2017 2016 2017 2016 481,317 4,556 485,873 361,256 101,853 22,764 2,267 Net Sales 72,714 70,271 Net Sales 495,761 Cost of Sales 51,125 49,145 Membership and other income 4.582 Gross Margin 21,589 21,126 total revenues 500,343 Cost of Sales 373,396 Operating, selling, General and Admin Expenses -17,365 -16,262 Operating, selling, General and Admin Expenses 106,510 Operating income 4,224 4,864 Operating income 20,437 Interest Expense -653 -991 Interest Expense 2,178 other 59 88 other -3,136 Income from continuing operations, before taxes 3,630 3.961 Income from continuing operations, before taxes 15,123 Income taxes, and discontinued operations -716 -1,227 Income taxes, and discontinued operations 4,600 Net Income 2,914 2.734 Net Income 10,523 Non controlling interest, currency translation, and other 6 4 Non controlling interest, currency translation, and other 3,537 pension liability 2 -13 pension liability -147 comprehensive income attributable to Target 2,922 2,725 comprehensive income attributable to Walmart 13,913 20,497 6,204 14,293 -3.682 397 11,008 Balance Sheet Balance Sheet 2017 2016 2017 2016 Assets Assets Current assets Cash and cash equivalents Receivables, net Current assets 2,643 4,046 Cash and cash equivalents 0 0 Receivables, net 6,756 5,614 6,867 5,835 Inventories 43,783 8,597 8,601 Inventories 1,300 1,483 Prepaid expenses and other 12,540 14,130 total current assets 43,046 1,941 Prepaid expenses and other 3,511 total current assets 59,664 57,689 107,710 6,468 property and equipment net of accumulated depreciation 24,536 25,217 property and equipment net of accumulated depreciation 107,675 property under capital lease net of accum amortization 1,884 0 property under capital lease net of accum amortization 7,143 Goodwill 0 0 Goodwill 18,242 Other 1,343 915 Other 11,798 Total assets 40,303 40,262 Total assets 204,522 17,037 9,921 198,825 5.257 1,099 Liabilities and Equity Current liabilities: Short term borrowings Accounts payable Accrued liabilities and other Total current liabilities Liabilities and Equity Current liabilities: 281 815 Short term borrowings 8,677 7,418 Accounts payable 4,094 4,389 Accrued liabilities and other 13,052 12,622 Total current liabilities 46,092 27,172 41,433 24,396 66,928 78,521 30.045 Long Term borrowings deferred income taxes other 11,117 11,945 Long Term borrowings 693 823 deferred income taxes 3,790 1,915 other 15,600 14,683 Total noncurrent liabilities 8,354 6.780 36,015 9,344 6,003 51,362 Total noncurrent liabilities 45,179 295 305 2,648 2,371 Equity Common stock additional paid in capital retained earnings other total equity Equity 45 50 Common stock 5,858 5,348 additional paid in capital 6,495 8,188 retained earnings -747 -629 other 11,651 12,957 total equity 85,107 -7,228 80,822 89,354 -11,495 80,535 Total current liabilities 13,052 12,622 Total current liabilities 78,521 66,928 30.045 36,015 Long Term borrowings deferred income taxes 11,117 11,945 Long Term borrowings 693 823 deferred income taxes 3,790 1,915 other 15,600 14,683 Total noncurrent liabilities 8,354 6,780 other Total noncurrent liabilities 9,344 6,003 51,362 45.179 295 305 Equity Common stock additional paid in capital retained earnings other 2,371 Equity 45 50 Common stock 5,858 5,348 additional paid in capital 6,495 8.188 retained earnings -747 -629 other 11,651 12,957 total equity 40,303 40,262 total liabilities and equity 89,354 2,648 85,107 -7.228 80,822 204,522 total equity total liabilities and equity -11,495 80,535 198,825 Here are some more numbers you need for the ratio project. These are from 2015. Inventory Balance: Walmart 44,469, Target 8,282 Accounts Receivable Balance Walmart=5,624 target= 0 (it is correct that target has 0 receivables each year) Find the Debt to Equity for 2017 and 2016 and inventory turnover in days as well as return on sales for each company and your analysis. Perform a vertical analysis and horizontal analysis. Statement of Operations (Income Statement) Statement of Operations (Income Statement) TARGET WALMART 2017 2016 2017 2016 481,317 4,556 485,873 361,256 101,853 22,764 2,267 Net Sales 72,714 70,271 Net Sales 495,761 Cost of Sales 51,125 49,145 Membership and other income 4.582 Gross Margin 21,589 21,126 total revenues 500,343 Cost of Sales 373,396 Operating, selling, General and Admin Expenses -17,365 -16,262 Operating, selling, General and Admin Expenses 106,510 Operating income 4,224 4,864 Operating income 20,437 Interest Expense -653 -991 Interest Expense 2,178 other 59 88 other -3,136 Income from continuing operations, before taxes 3,630 3.961 Income from continuing operations, before taxes 15,123 Income taxes, and discontinued operations -716 -1,227 Income taxes, and discontinued operations 4,600 Net Income 2,914 2.734 Net Income 10,523 Non controlling interest, currency translation, and other 6 4 Non controlling interest, currency translation, and other 3,537 pension liability 2 -13 pension liability -147 comprehensive income attributable to Target 2,922 2,725 comprehensive income attributable to Walmart 13,913 20,497 6,204 14,293 -3.682 397 11,008 Balance Sheet Balance Sheet 2017 2016 2017 2016 Assets Assets Current assets Cash and cash equivalents Receivables, net Current assets 2,643 4,046 Cash and cash equivalents 0 0 Receivables, net 6,756 5,614 6,867 5,835 Inventories 43,783 8,597 8,601 Inventories 1,300 1,483 Prepaid expenses and other 12,540 14,130 total current assets 43,046 1,941 Prepaid expenses and other 3,511 total current assets 59,664 57,689 107,710 6,468 property and equipment net of accumulated depreciation 24,536 25,217 property and equipment net of accumulated depreciation 107,675 property under capital lease net of accum amortization 1,884 0 property under capital lease net of accum amortization 7,143 Goodwill 0 0 Goodwill 18,242 Other 1,343 915 Other 11,798 Total assets 40,303 40,262 Total assets 204,522 17,037 9,921 198,825 5.257 1,099 Liabilities and Equity Current liabilities: Short term borrowings Accounts payable Accrued liabilities and other Total current liabilities Liabilities and Equity Current liabilities: 281 815 Short term borrowings 8,677 7,418 Accounts payable 4,094 4,389 Accrued liabilities and other 13,052 12,622 Total current liabilities 46,092 27,172 41,433 24,396 66,928 78,521 30.045 Long Term borrowings deferred income taxes other 11,117 11,945 Long Term borrowings 693 823 deferred income taxes 3,790 1,915 other 15,600 14,683 Total noncurrent liabilities 8,354 6.780 36,015 9,344 6,003 51,362 Total noncurrent liabilities 45,179 295 305 2,648 2,371 Equity Common stock additional paid in capital retained earnings other total equity Equity 45 50 Common stock 5,858 5,348 additional paid in capital 6,495 8,188 retained earnings -747 -629 other 11,651 12,957 total equity 85,107 -7,228 80,822 89,354 -11,495 80,535 Total current liabilities 13,052 12,622 Total current liabilities 78,521 66,928 30.045 36,015 Long Term borrowings deferred income taxes 11,117 11,945 Long Term borrowings 693 823 deferred income taxes 3,790 1,915 other 15,600 14,683 Total noncurrent liabilities 8,354 6,780 other Total noncurrent liabilities 9,344 6,003 51,362 45.179 295 305 Equity Common stock additional paid in capital retained earnings other 2,371 Equity 45 50 Common stock 5,858 5,348 additional paid in capital 6,495 8.188 retained earnings -747 -629 other 11,651 12,957 total equity 40,303 40,262 total liabilities and equity 89,354 2,648 85,107 -7.228 80,822 204,522 total equity total liabilities and equity -11,495 80,535 198,825 Here are some more numbers you need for the ratio project. These are from 2015. Inventory Balance: Walmart 44,469, Target 8,282 Accounts Receivable Balance Walmart=5,624 target= 0 (it is correct that target has 0 receivables each year) Find the Debt to Equity for 2017 and 2016 and inventory turnover in days as well as return on sales for each company and your analysis. Perform a vertical analysis and horizontal analysis
