Link for the annual report- https:/corporate.target.com/annual-reports/pdf-viewe

Question

Link for the annual report- https:/corporate.target.com/annual-reports/pdf-viewer-2016? cover-28067&parts-28073; Refer to the Target 2016 Annual Report. On page 32 of the annual report is Target Income statement (called the Consolidated Statements of Operations). On page 34 is the Balance Sheet (called the Consolidated Statements of Financial Position). Note: the Balance Sheet ending date for current Fiscal Year (FY) 2016 is January 28, 2017. The Balance Sheet ending date for prior FY 2015 is January 30, 2016. Requirements: Answer the following questions using Target 2016 Annual Report. You may work with another student but the work must be on your own. Use correct formatting and proper grammar. The financial reports are stated in millions of dollars. When possible, please write answers exactly as they appear in the financial statements. Include commas when writing dollar amounts. Do not include dollar signs. Do not include the word million. Do not include the % sign. Question 5. Did the current ratio improve, worsen or stay the same? -Improve -Worsen Stay the same Question 6. Under what category does Target report fixtures and equipment? Question 7. What was the value of Target inventory for the current FY? million Question 8. What was the value of Target inventory for the prior FY? million

Explanation / Answer

Question 5

Current Ratio = current assets / current liabilities

Current year = 11990 / 12708 = 0.94

Prior year = 14130/12622 = 1.12

Therefore answer is option B worsen

Question 6

Target reports fixtures and equipment under the category of property and equipment.

Question 7

The value of Target inventory for the current FY = $8309 million

Question 8

The value of Target inventory for the prior FY = $8601 million

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