Selected hypothetical financial data of Target and Wal-Mart for 2022 are presented here (in millions).
Target | Wal-Mart | ||||||
---|---|---|---|---|---|---|---|
Income Statement Data for Year | |||||||
Net sales | $66,700 | $409,000 | |||||
Cost of goods sold | 46,000 | 306,000 | |||||
14,700 | 76,000 | ||||||
Interest expense | 650 | 1,800 | |||||
Other income (expense) | (95 | ) | (420 | ) | |||
Income tax expense | 1,400 | 7,200 | |||||
Net income | $ 3,855 | $ 17,580 | |||||
Balance Sheet Data | |||||||
Current assets | $19,000 | $48,000 | |||||
Noncurrent assets | 25,600 | 120,000 | |||||
Total assets | $44,600 | $168,000 | |||||
Current liabilities | $10,000 | $55,000 | |||||
Long-term debt | 18,200 | 44,000 | |||||
16,400 | 69,000 | ||||||
$44,600 | $168,000 | ||||||
Beginning-of-Year Balances | |||||||
Total assets | $43,000 | $162,000 | |||||
13,500 | 66,000 | ||||||
10,500 | 55,000 | ||||||
Total liabilities | 29,500 | 96,000 | |||||
Other Data | |||||||
$7,800 | $3,900 | ||||||
7,000 | 33,700 | ||||||
5,600 | 26,800 | ||||||
1,800 | 12,400 | ||||||
Dividends | 460 | 4,500 |
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 0 decimal places, e.g. 5,275 and all answers to 1 decimal place, e.g. 1.8 or 1.83%.)
Ratio | Target | Wal-Mart | ||||||
---|---|---|---|---|---|---|---|---|
(1) | Current ratio | :1 | :1 | |||||
(2) | Accounts receivable turnover | times | times | |||||
(3) | Average collection period | days | days | |||||
(4) | Inventory turnover | times | times | |||||
(5) | Days in inventory | days | days | |||||
(6) | Profit margin | % | % | |||||
(7) | Asset turnover | times | times | |||||
(8) | Return on assets | % | % | |||||
(9) | Return on common stockholders’ equity | % | % | |||||
(10) | Debt to assets ratio | % | % | |||||
(11) | Times interest earned | times | times | |||||
(12) | Free cash flow | $ | $ |
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