% 100.00% % 100,00% Vertical Analysis - Income Statement Target Corporation INSTRUCTIONS Change XX to the year of the report you are analyzing. You may have to insert additional rows FY 2010 3 hed on the actual Target Consolidated statement 4 Sales $ 74,433 Cost of sales 53,299 Gross margin $ 21,134 7 Selling, general, and administrative expenses Depreciation and amortization 2.224 9 Gain on sale 10 Earnings from continuing operations before interest and taxes $ 3,187 11 Net interest expense 461 12 Earnings from continuing operations before income taxes $ 2.726 13 Provision for income taxes 14 Net earnings from continuing operations $ 1.980 15 Discontinued operations, net of tax 15 Net earnings/loss) $ 1,987 17 FY 2017 71,879 51.125 $ 20.754 14.248 2,194 $ IS $ 4,312 666 3.646 IS 2.928 $ 2,934 342 V fx C D FY 2018 % FY 2017 $ S 8 1,556 9,497 2 1466 12,521 $ 2,643 ,597 62 ,300 12,602 S 1 $ INSTRUCTIONS Change XX to the year of the report you are analyzing. You may have to insert additional rows based on the actual Target Consolidated 3 statement 4 ASSETS 5 Cash and cash equivalents 6 Inventory 7 Assets of discontinued operations B Other current assets 9 Total current assets 10 Property and equipment 11 Land 12 Buildings and equipment 13 Fixtures and equipment 14 Computer hardware and software 15 Construction in progress 16 Accumulated depreciation 17 Property and equipment, net 18 Noncurrent assets of discontinued operations 19 Other noncurrent assets 20 Total assets 21 LIABILITIES S S S 6,064 29,240 5,912 2,544 A60 (18.6823 25,533 $ S S 6005 2 8,131 5 ,623 2,645 440 (18,398) 24.535 $ 1,273 39,327 100.00% 1,343 38,481 $ 100.00% 9,761 4.201 1052 8,677 4,094 281 IS $ $ $ 15,014 10.223 972 $ IS $ 13,052 11,117 693 21 LIABILITIES 22 Accounts payable 23 Accrued and other current liabilities 24 Current portion of long-term debt and other borrowings 25 Liabilities of discontinued operations 26 Total current liabilities 27 Long-term debt and other borrowings 28 Deferred income taxes 29 Noncurrent liabilities of discontinued operations 30 Other noncurrent liabilities 31 Total noncurrent liabilities 32 Total liabilities 33 SHAREHOLDERS INVESTMENT 34 Common stock 35 Additional paid-in capital 36 Retained earnings 37 Accumulated other comprehensive loss 38 Pension and other benefit liabilities 39 Currency translation adjustment and cash flow hedges 40 Total shareholders' investment 41 Total liabilities and shareholders investment SECTION 1-A SECTION 1-B SECTION 1 C S $ $ 1.780 12,975 27.989 $ S 1.866 13,676 26,728 $ S 43 6,042 6,017 $ $ $ $ 45 5,858 .495 S 6 $ $ (52) S (6) $ 12,044 $ 40.033 100.00% S SECTION 2 - Ratio Analysis Is... 2 6 12,406 39.134 S SECTION 1-D LIQUIDITY Working capital Formula current assets -current liabilities Calculation Current ratio Formula current assets/ current liabilities Calculation 1 Quick ratio Formula current assets inventory/current liabilities Calculation Inventory turnover Formule Cost of goods sold / average inventory Calculation Average days to sell inventory Formula 365/inventory turnover Calculation SOLVENCY 21 Debt to assets Formula Total liabilities/total assets Calculation 24 Debt to equity Formula total liabilities / total equity Calculation 27 Number of times interest is earned 27 Number of times interest is earned Formula EBIT/ Interest expense Calculation 30 Plant assets to long-term liabilities 31 Formula Net plant assets / Long-term liabilities (debt and borrowings) Calculation PROFITABILITY 34 Net margin (return on sales) FormulaNet incomeet sales Calculation 37 Asset turnover Formula Net sales / average total assets Calculation 40 Return on investment Formula Net Income average total assets Calculation 43 Return on equity Formula Net income average total stockholders' equity Calculation 46 Earnings per share Formula Net earnings available for common stock/ average number of shares outstanding Calculation 49 Price earnings Formula Market price per share / earnings pur share Calculation SECTION 1-A SECTION 1-8 SECTION 1 C SECTION 1 D SECTION 2. Ratio Analeler 52 Book value per share (common) Formula Stockholders' equity-preferred stock/outstanding common shares Calculation 56