Obtain the Target Corporation’s annual report at http://investors.target.com using the instructions in Appendix B, and use it to answer the following questions:
a. What was Target’s net income for 2016 (the year ended January 28, 2017)
b. Did Target’s net income increase or decrease from 2015 to 2016? By how much?
c. What was Target’s accounting equation for 2016?
d. Which of the following had the largest percentage change from 2015 to 2016: sales, cost of sales, or selling, general, and administrative expenses? Show all computations.