Use Target Corporation’s financial statements to answer the following questions.
Visit https://www.pearsonglobaleditions.com/Horngren to view a link to Target Corporation’s Fiscal 2018 Annual Report.
Requirements

1. Review the stockholders’ equity section of the balance sheet. Did Target have any preferred stock at February 2, 2019?
2. Now examine the notes at the bottom of the balance sheet. Is Target authorized to issue preferred stock? If so, how much?
3. How much of Target Corporation’s common stock was outstanding at February 2, 2019? How can you tell?
4. Examine Target Corporation’s consolidated statements of cash flows. Did Target pay any cash dividends during the year ending February 2, 2019? If so, how much?
5. Show how Target Corporation computed basic earnings per share of $5.55 for fiscal year 2018. (Ignore diluted earnings per share.)