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Problem -
Selected financial data of Target and Wal-Mart Stores, Inc. for a recent year are presented here (in millions).
Target Corporation
Wal-Mart Stores, Inc.
Income Statement Data for Year
Net sales
$67,390
$405,046
Cost of goods sold
45,725
304,657
Selling and administrative expenses
13,469
79,607
Interest expense
757
1,884
Other income (expense)
(2,944)
2,576
Income tax expense
1,575
7,139
Net income
$ 2,920
$ 14,335
Balance Sheet Data (End of Year)
Current assets
$17,213
$ 48,331
Noncurrent assets
26,492
122,375
Total assets
$43,705
$170,706
Current liabilities
$10,070
$ 55,561
Long-term debt
18,148
44,396
Total stockholders' equity
15,487
70,749
Total liabilities and stockholders' equity
Beginning-of-Year Balances
$44,533
$163,429
15,347
65,285
11,327
55,390
Total liabilities
29,186
98,144
Other Data
Average net accounts receivable
$ 6560
$ 4,025
Average inventory
7,388
33,836
Net cash provided by operating activities
5,271
26,249
Assume that net sales given are the net credit sales.
Compute the Debts To Totals Assets ratio for each company.
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