1 From the Company Financial Statements for Target Companies, identify the following items and input amounts into the shaded cells. If Target does not have an account requested put 0 (zero). Balance Sheet (2020 amounts only) Balance Sheet (2020 and 2019 amounts) Income Statement (2021 only) Cash 2020 2019 Sales Accounts Receivable Inventory Cost of Goods Sold Marketable Securities Total Stockholders' Equity Interest Expense Total Current Assets Income Tax Expense Total Current Liabilities Net Income Total Liabilities Basic Earnings per share 2 Compute the following ratios (please input into shaded cell) Display answer to two decimal places. (11 points, as indicated) Liquidity Current Ratio Acid Test (1 point) (1 point) Asset Management Average Inventory Sale period (2 points) Debt Management Debt to equity Times Interest Earned (1 point (2 points) Profitability Return on Equity Net Profit Margin (2 points) (1 point) Market Performance Dividend Payout (1 point) For this assignment you will use the financial statements and Excel template provided in Canvas (each section of ACCTG 231 is assigned a different company) to: Find the financial statement amounts requested and enter them into the Excel spreadsheet template (NOTE: an amount for dividends has already been entered in the data section of the spreadsheet). (14 points) Compute the ratios requested in the Excel template. (11 points) A couple of notes: The financial statements uploaded to Canvas for this assignment are not necessarily the most recent for each company, as years were explicitly chosen to insure a positive net income and existence of a few key items. Also, ratios presented online may differ from those you compute as websites may adjust formulas and/or omit items from some calculations (i.e. some ratios have a few variations with regard to alternative calculations). Points for this assignment will be based on: Using amounts from the specific financial statements provided Computing ratios using the specific formulas in Chapter 14 (a summary of the Chapter 14 formulas is in Exhibit 14-6 in the text) - present all computations to two decimal places. TARGET CORPORATION Target Corporation (Target, the Corporation or the Company) was incorporated in Minnesota in 1902. We offer to our customers, referred to as "guests," everyday essentials and fashionable, differentiated merchandise at discounted prices. Our ability to deliver a preferred shopping experience to our guests is supported by our supply chain and technology, our devotion to innovation, our loyalty offerings and suite of fulfillment options, and our disciplined approach to managing our business and investing in future growth. We operate as a single segment designed to enable guests to purchase products seamlessly in stores or through our digital channels. Since 1946, we have given 5 percent of our profit to communities. We sell a wide assortment of general merchandise and food. The majority of our general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy, and frozen items. Nearly all of our stores larger than 170,000 square feet offer a full line of food items comparable to traditional supermarkets. Our small format stores, generally smaller than 50,000 square feet, offer curated general merchandise and food assortments. Our digital channels include a wide merchandise assortment, including many items found in our stores, along with a complementary assortment. Index of State Consolidated Statements of Operations 2020 92,400 $ 1,161 93,561 66,177 18,615 2019 77,130 $ 982 78,112 54,864 16,233 2018 74,433 923 75,356 53,299 15,723 2,357 4,658 477 2,230 6,539 977 16 5,546 1,178 4,368 (millions, except per share data) Sales Other revenue Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net other (income) / expense Earings from continuing operations before income taxes Provision for Income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings Basic earnings per share Continuing operations Discontinued operations Net earnings per share Diluted earnings per share Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding Basic Diluted Antidilutive shares Note: Per share amounts may not foot due to rounding. 4,190 921 3,269 12 3,281 $ 2,224 4,110 461 (27) 3,676 746 2.930 7 2,937 $ 4,368 $ S 8.72 $ 6.39 $ 0.02 6.42 $ 5.54 0.01 5.55 $ 8.72 $ $ 8.64 $ 6.34 $ 0.02 6.36 $ 5.50 0.01 5.51 $ 8.64 s 500,6 505.4 510.9 515.6 528.6 533.2 See accompanying Notes to Consolidated Financial Statements. Consolidated Statements of Financial Position January 30, February 12 (millions, except footnotes) 2021 2020 Assets Cash and cash equivalents s 8.511 $ 2,577 Inventory 10,653 8,992 Other current assets 1,592 1,333 Total current assets 20.756 12,902 Property and equipment Land 6,141 6,036 Buildings and improvements 31,557 30,603 Fixtures and equipment 5,914 6,083 Computer hardware and software 2.765 2,692 Construction-in-progress 780 533 Accumulated depreciation (20,278) (19.664) Property and equipment, net 26,879 26,283 Operating lease assets 2,227 2,236 Other noncurrent assets 1,386 1,358 Total assets $ 51,248 S 42.779 Liabilities and shareholders Investment Accounts payable $ 12,859 S 9,920 Accrued and other current liabilities 6,122 4,406 Current portion of long-term debt and other borrowings 1,144 161 Total current liabilities 20,125 14,487 Long-term debt and other borrowings 11,536 11,338 Noncurrent operating lease labitties 2,218 2.275 Deferred income taxes 990 1,122 Other noncurrent liabilities 1,939 1,724 Total noncurrent liabilities 16,683 16,459 Shareholders' investment Common stock 42 42 Additional paid-in capital 6,329 6,226 Retained earnings 8,825 6,433 Accumulated other comprehensive loss (758) (868) Total shareholders' investment 14,440 11,833 Total liabilities and shareholders' Investment $ 51,248 $ 42.779 Common Stock Authorized 6,000,000,000 shares, 50.0833 par value: 500.877.129 shares issued and outstanding as of January 30, 2021; 504,198,962 shares issued and outstanding as of February 1, 2020. Preferred Stock Authorized 5,000,000 shares, 50.01 par value; no shares were issued or outstanding during any period presented. See accompanying Nates to consolidated Financial Salements