Walmart Inc. (WMT), a major competitor to Target Corporation (TGT) in the retail business, operates over 11,000 stores. Walmart recently reported the following end-of-year balance sheet data (in millions):

a. Compute the ratio of liabilities to stockholders’ equity for all three years. Round to two decimal places.
b. What conclusions regarding the margin of protection to creditors can you draw from the trend in this ratio for the three years?

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Year 3 Year 2 Year 1 Total assets $219,295 $204,522 $198,825 Total liabilities 139,661 123,700 118,290 Total stockholders' equity 79,634 80,822 80,535