Exhibit presents some financial information for Wal-Mart (WMT), Kohl€™s (KSS), JCPenney (JCP), and Target (TGT). Which do you believe is the preferred investment based on this information gathered in August 2012? Be prepared to defend youranswer.

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Balance sheet Cash and marketable securities Current receivables Inventories Other current assets Total current assets Net property, plant, and equipment Other noncurrent assets Total assets Current liabilities Long term liabilities Stockholders' equity Total liabilities and stockholders' equity 100.00 Income statement Revenue Cost of sales Gross profit Selling, general, and administrative R&D Interest expense Other expenses (income) Income taxes Net income Ratio Current ratio Long-term debt as % of equity* ROAT (96) ROE (%) Inventory turnover (times per year) 21.35 5.93 23.35 2.19 2.33 1.95 12.60 8.07 9.84 3.38 2.95 10.45 3.11 1.46 3.94 4.25 7.38 14.82 8.19 2.14 1.42 4.74 38.76 22.63 39.18 22.74 23.03 9.93 20.22 11.95 56.95 34.59 60.87 26.80 64.13 77.16 2.62 100.00 100.00 100.00 100.00 100.00 100.00 100.00 24.30 19.8715.42 25.73 32.45 8.19 19.61 23.75 26.37 7.51 35.46 54.32 52.27 45.77 51.95 53.76 77.07 38.81 13.23 39.54 34.62 100.00 5.40 2.61 5.07 2.78 2.06 2.73 49.29 20,42 26.23 16.39 50.17 25.94 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 16.80 70.40 44.54 71.62 58.14 63.38 77.93 83.20 29.60 55.46 28.38 41.86 36.62 22.07 30.10 2.10 14.52 24.16 26.63 17.60 17.99 0.00 0.00 0.00 0.00 0.81 2.41 5.61 0.95 16.46 11.76 5.27 0.00 0.09 (1.57) 0.59 3.41 6.97 6.37 1.22 3.78 4.66 0.91 1.63 16.45 0.00 15.22 0.00 0.00 0.00 16.78 8.77 14.08 2.19 8.95 10.32 1.59 1.142.54 0.88 0.71 1.21 1.03 13.84 7.02 4.83 81.04 81.00 63.13 73.92 7.16 15.44 9.95 5.49 10.27 2.654.00 13.22 29.23 12.93 14.30 57.78 6.46 7.94 NM 1.68 31.60 4.71 11.72 8.19 7.80