1. The following financial data were adapted from a recent annual report of Target Corporation for the year ending January 31.

	In millions
Accounts payable	$ 7,759
Cash	2,210
Common stock	53
Cost of goods sold	51,278
Debt and other borrowings	12,705
Income tax expense	1,204
Interest expense	882
Inventories	8,790
Other assets	4,446
Other expenses	6,214
Other liabilities	6,943
Property, plant, and equipment	25,958
Sales	72,618
Selling, general, and administrative expenses	14,676

Instructions:

1. Prepare Target's income statement for the year ending January 31.

Choose One: Accounts payable Cost of goods sold Income tax expense Sales Selling, general, and administrative expenses		$=?
Expenses:
Choose One: Accounts payable Common stock Cash Cost of goods sold Other assets	$=?
Choose One: Cash Other liabilities Other credit card revenue Receivables Selling, general, and administrative expenses	=?
Choose One: Accounts payable Income tax expense Inventories Receivables Retained earnings	=?
Choose One: Accounts payable Interest expense Other assets Receivables Sales	=?
Choose One: Accounts payable Other assets Other expenses Other liabilities Other credit card revenue	=?
Total expenses		=?
Choose One: Net income Net loss		$=?

2. Prepare Target's statement of stockholders' equity for the year ending January 31, 20Y2. Use the minus sign to indicate a net loss. If an amount box is zero, enter "0". Use the following additional information for the year:

No common stock was issue during the year
Retained earnings Feb. 1 of prior year		$12,599
Dividends		1,319
Other stockholder equity items on Feb. 1 of prior year		3,579
Increase in other stockholder equity items		721

	Common Stock	Retained Earnings	Other Items	Total
Balances, Feb. 1 of prior year	$=?	$=?	$=?	$=?
Choose One: Accounts payable Cash Other expenses Net income for year Net loss for year	=?	=?	=?	=?
Choose One: Accounts payable Cash Dividends Other expenses Net loss for year	=?	=?	=?	=?
Choose One: Accounts payable Cash Other items Other expenses Net loss for year	=?	=?	=?	=?
Balances, January 31	$=?	$=?	$=?	$=?

3. Prepare a balance sheet as of January 31, for Target.

Assets
Choose One: Accounts payable Common stockCash Cost of goods sold Other liabilities		$-=?
Choose One: Accounts payable Inventories Other liabilities Other revenue (net) Retained earnings		=?
Choose One: Accounts payable Common stock Income tax expense Property, plant, and equipment Sales		=?
Choose One: Cash Other assets Other expense Other liabilities Other revenue (net)		=?
Total assets		$=?
Liabilities
Choose One: Accounts payable Common stock Inventories Property, plant, and equipment Receivables	$=?
Choose One: Cash Common stock Debt and other borrowings Receivables Retained earnings	=?
Choose One: Common stock Cash Inventories Other liabilities Retained earnings	=?
Total liabilities		$=?
Stockholders' Equity
Choose One: Common stock Cash Investments Property, plant, and equipment Receivables	$=?
Choose One: Accounts payable Inventories Other liabilities Property, plant, and equipment Retained earnings	=?
Choose One: Accounts payable CashInventories Debt and other borrowings Other stockholder equity items	=?
Total stockholders' equity		=?
Total liabilities and stockholders' equity		$=?

2. The following financial data were adapted from a recent annual report of Target Corporation for the year ending January 31.

	In millions
Accounts payable	$13,714
Cash	1,588
Common stock	5,724
Cost of goods sold	95,720
Debt and other borrowings	34,966
Income tax expense	3,054
Interest expense	1,732
Inventories	15,836
Other assets	5,684
Other expenses	5,154
Other liabilities	12,938
Property, plant, and equipment	58,298
Sales	136,932
Selling, general, and administrative expenses	28,212

Instructions:

1. Prepare Target's income statement for the year ending January 31.

Choose One: Accounts payable Cost of goods sold Income tax expense Sales Selling, general, and administrative expenses		$=?
Expenses:
Choose One: Accounts payable Common stock Cash Cost of goods sold Other assets	$=?
Choose One: Cash Other liabilities Other credit card revenue Receivables Selling, general, and administrative expenses	=?
Choose One: Accounts payable Income tax expense Inventories Receivables Retained earnings	=?
Choose One: Accounts payable Interest expense Other assets ReceivablesSales	=?
Choose One: Accounts payable Other assets Other expenses Other liabilities Other credit card revenue	=?
Total expenses		=?
Choose One: Net income Net loss		$=?

2. Prepare Target's retained earnings statement for the year ending January 31, 20Y2. If an amount box is zero, enter "0".

No common stock was issue during the year
Retained earnings Feb. 1 of prior year		$12,698
Dividends		2,798
Other stockholder equity items on Feb. 1 of prior year		1,104
Increase in other stockholder equity items		0

	Common Stock	Retained Earnings	Other Items	Total
Balances, Feb. 1 of prior year	$=?	$=?	$=?	$=?
Choose One: Accounts payable Cash Other expenses Net income for year Net loss for year	=?	=?	=?	=?
=?		=?	=?	=?
Balances, January 31	$=?	$=?	$=?	$=?

3. Prepare a balance sheet as of January 31, for Target.

Assets
Chose One: Accounts payable Common stock Cash Cost of goods sold Other liabilities		$=?
Choose One: Accounts payable Inventories Other liabilities Other revenue (net) Retained earnings		=?
Choose One: Accounts payable Common stock Income tax expense Property, plant, and equipment Sales		=?
Choose One: Cash Other assets Other expense Other liabilities Other revenue (net)		=?
Total assets		$=?
Liabilities
Choose One: Accounts payable Common stock Inventories Property, plant, and equipment Receivables	$=?
Choose One: Cash Common stock Debt and other borrowings Receivables Retained earnings	=?
Choose One: Common stock CashInventories Other liabilities Retained earnings	=?
Total liabilities		$=?
Stockholders' Equity
Choose One: Common stock Cash Investments Property, plant, and equipment Receivables	$=?
Choose One: Accounts payable Inventories Other liabilities Property, plant, and equipment Retained earnings	=?
Choose One: Accounts payable Cash Inventories Debt and other borrowings Other stockholder equity items	=?
Total stockholders' equity		=?
Total liabilities and stockholders' equity		$=?