Answer:
1. Which balance sheet format does Target use?
Consolitated Statements of Financial Position
2. Name the company’s largest current asset and largest current liability at January 30, 2016.
Largest current asset: inventory $8,601 million
Largest current liability: accounts payable $7,418 million
3. Compute Target’s current ratios at January 30, 2016, and January 31, 2015. Did the current ratio improve, worsen, or hold steady?
Current ratio 2016 = 14,130 / 12,622 = 1.12
Current ratio 2015 = 13,624 / 11,736 = 1.16
We can see that the current ratio worsened a bit from 2015 to 2016.
4. Under what category does Target report furniture, fixtures, and equipment?
Under property, land, and equipment.
5. What was the cost of the company’s property, plant, and equipment at January 30, 2016?
$55,593 million
What was the amount of accumulated depreciation?
$16,246 million
What was the book value of the property, plant, and equipment?
$25,217 million
