Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Target Corporation Wal-Mart Stores, Inc. Income Statement Data for Year Net sales $64,900 $405,000 Cost of goods sold 44,000 300,000 Selling and administrative expenses 14,000 75,000 Interest expense 650 1,800 Other income (expense) (70 ) (380 ) Income tax expense 1,300 6,500 Net income $ 4,880 $ 21,320 Balance Sheet Data (End of Year) Current assets $16,000 $45,000 Noncurrent assets 25,000 120,000 Total assets $41,000 $165,000 Current liabilities $10,000 $54,000 Long-term debt 16,800 43,000 Total stockholders’ equity 14,200 68,000 Total liabilities and stockholders’ equity $41,000 $165,000 Beginning-of-Year Balances Total assets $43,000 $162,000 Total stockholders’ equity 12,500 64,000 Current liabilities 10,000 54,000 Total liabilities 30,500 98,000 Other Data Average net accounts receivable $7,400 $3,800 Average inventory 6,800 32,800 Net cash provided by operating activities 5,500 25,500 Capital expenditures 1,600 11,500 Dividends 450 3,500 (a) For each company, compute the following ratios. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)(a) For each company, compute the following ratios. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)Ratio TargetWal-Mart(1) Current ratio Enter a number:1 Enter a number:1(2) Accounts receivable turnover Enter a numbertimes Enter a numbertimes(3) Average collection period Enter a numberdays Enter a numberdays(4) Inventory turnover Enter a numbertimes Enter a numbertimes(5) Days in inventory Enter a numberdays Enter a numberdays(6) Profit margin Enter percentages% Enter percentages%(7) Asset turnover Enter a numbertimes Enter a numbertimes(8) Return on assets Enter percentages% Enter percentages%(9) Return on common stockholders’ equity Enter percentages% Enter percentages%(10) Debt to assets ratio Enter percentages% Enter percentages%(11) Times interest earned Enter a numbertimes Enter a numbertimes(12) Free cash flow

If the tax on gasoline is increased to provide incentives to curb air pollution, then the tax serves as

On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred: Factory Manager Salary $7,000 Factory Utilities 2,000 Machinery Deprecation 11,000 Machinery Repairs 2,500 Factory Insurance (prepaid) 1,000 The overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $21,000 would be incurred, and 10,000 direct labor hours would be worked. During March, 7,100 hours were actually worked on Job Order A-2 and 3,000 hours were actually worked on Job Order A-3. Use this information to prepare the March 31 General Journal entry to record the factory overhead costs. (round any final dollar answers to the nearest whole dollar):

If the world relative price lies somewhere between the autarky relative price of Home and the autarky relative price of Foreign, then: _____________ a. Only the country whose government subsidizes its exports will gain.
b. Home but not Foreign will gain from trade.
c. Neither Home nor Foreign will gain from trade.
d. Home and Foreign will both gain from trade.

Colter Steel has $5,600,000 in assets. Temporary current assets $ 3,200,000 Permanent current assets 1,610,000 Fixed assets 790,000 Total assets $ 5,600,000 Short-term rates are 10 percent. Long-term rates are 15 percent. Earnings before interest and taxes are $1,180,000. The tax rate is 20 percent. If long-term financing is perfectly matched (synchronized) with long-term asset needs, and the same is true of short-term financing, what will earnings after taxes be

On June 1, 2014, Siebens Enterprises loaned $27,000 to Tyler Company for one year at 8 percent interest. Under the terms of the promissory note, Tyler will repay the principal and pay one year's interest on May 31, 2015. Related to this note receivable, what amount of interest income would Siebens report on its 2014 income statement? (Round your final answer to the nearest whole dollar amount.)

Trade Mart has recently had lackluster sales. The rate of inventory turnover has? dropped, and the merchandise is gathering dust. At the same time, competition has forced AquariumAquarium's suppliers to lower the prices that Aquarium will pay when it replaces its inventory. It is now December 31, 2016, and the current replacement cost Aquarium's ending inventory is $75,000 below what Aquarium actually paid for the goods, which was $200,000.Before any adjustments at the end of the? period, the Cost of Goods Sold account has a balance of $$820,000.
Requirements:
a. What accounting action should Aquarium take in this situation?
b. Give any journal entry required.
c. At what amount should Aquarium report Inventory on the balance? sheet?
d. At what amount should the company report Cost of Goods Sold on the income? statement?
e. Discuss the accounting principle or concept that is most relevant to this situation.