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Current Attempt in Progress 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 $ 413,000 Cost of goods sold 46,000 308,000 Selling and administrative expenses 14,400 77,000 Interest expense 680 1,800 Other income (expense) (90) (380) Income tax expense 1,400 6,900 Net income $ 4,230 $ 18,920 Balance Sheet Data (End of Year) Current assets $ 18,000 $ 47,000 Noncurrent assets 27,500 121,000 Total assets $ 45,500 $ 168,000 Current liabilities $ 11,000 $ 54,000 Long-term debt 16,800 45,000 Total stockholders' equity 17,700 69,000 Total liabilities and stockholders' equity $ 45,500 $ 168,000 Beginning-of-Year Balances Total assets $ 43,000 $ 162,000 Total stockholders' equity 13,500 64,000 Current liabilities 10,500 54,000 Total liabilities 29,500 98,000 Other Data Average net accounts receivable $ 7,700 $ 3,800 Average inventory 6,800 34,200 Net cash provided by operating activities 5,600 25,600 Capital expenditures 1,800 12,100 Dividends 450 4,300 (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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