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 $66,100 $411,000 Cost of goods sold 44,000 302,000 Selling and administrative expenses 15,400 81,000 Interest expense 660 2,100 Other income (expense) (70 ) (420 ) Income tax expense 1,400 7,300 Net income $ 4,570 $ 18,180 Balance Sheet Data (End of Year) Current assets $17,000 $49,000 Noncurrent assets 26,800 120,000 Total assets $43,800 $169,000 Current liabilities $12,000 $54,000 Long-term debt 17,600 45,000 Total stockholders' equity 14,200 70,000 Total liabilities and stockholders' equity $43,800 $169,000 Beginning-of-Year Balances Total assets $43,000 $162,000 Total stockholders' equity 14,400 66,000 Current liabilities 10,600 57,000 Total liabilities 28,600 96,000
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 $66,100 $411,000 Cost of goods sold 44,000 302,000 Selling and administrative expenses 15,400 81,000 Interest expense 660 2,100 Other income (expense) (70 ) (420 ) Income tax expense 1,400 7,300 Net income $ 4,570 $ 18,180 Balance Sheet Data (End of Year) Current assets $17,000 $49,000 Noncurrent assets 26,800 120,000 Total assets $43,800 $169,000 Current liabilities $12,000 $54,000 Long-term debt 17,600 45,000 Total stockholders' equity 14,200 70,000 Total liabilities and stockholders' equity $43,800 $169,000 Beginning-of-Year Balances Total assets $43,000 $162,000 Total stockholders' equity 14,400 66,000 Current liabilities 10,600 57,000 Total liabilities 28,600 96,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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