Selected financial data of ABC and XYZ for a recent year are presented here (in millions).
| ABC | XYZ | |||
| Corporation | Stores, Inc. | |||
| Income Statement Data for Year | ||||
| Net sales | $61,481 | $374,339 | ||
| Cost of goods sold | 41,846 | 286,796 | ||
| Selling and administrative expenses | 16,250 | 70,904 | ||
| Interest expense | 687 | 1,752 | ||
| Other income (expense) | 1,879 | 4,246 | ||
| Income tax expense |
1,667 |
6,783 |
||
| Net income |
$ 2,910 |
$ 12,350 |
||
|
Balance Sheet Data (End of Year) |
||||
| Current assets | $18,498 | $47,106 | ||
| Noncurrent assets |
25,132 |
115,600 |
||
| Total assets |
$43,630 |
$162,706 |
||
| Current liabilities | $ 11,430 | $ 58,112 | ||
| Long term debt | 17,548 | 40,796 | ||
| Total stockholders’ equity |
14,652 |
63,798 |
||
| Total liabilities and stockholders’ equity |
$43,630 |
$162,706 |
||
|
Beginning of Year Balances |
||||
| Total assets | $37,722 | $151,727 | ||
| Total stockholders’ equity | 15,734 | 61,390 | ||
| Current liabilities | 10,823 | 51,702 | ||
| Total liabilities | 22,062 | 89,558 | ||
|
Other Data |
||||
| Average net receivables | $6,873 | $ 3,339 | ||
| Average inventory | 6,345 | 34,538 | ||
| Net cash provided by operating activities | 4,632 | 20,631 | ||