Analysis and Interpretation of Protability Balance sheets and income statements for Target Corporation follow. Income Statement For Fiscal Years Ended (S millions) 2006 2005 2004 Sales 5 51,271 5 45,682 $ 40,928 Credit card revenues 1.349 1.157 1.097 Total revenues 52,620 46,839 42,025 Cost of sales 34,927 31,445 28,389 Selling, general and administrative expenses 11,185 9,797 8,657 Credit card expenses 776 737 722 Depreciation and amortization 1.409 1.259 1.098 Earnings before interest and income taxes 4,323 3,601 3,159 Net interest expense 463 570 556 Earnings before income taxes 3,860 3.031 2,603 Provisions for income taxes 1.452 1.146 984 Net earnings 5 2,408 $ 1,885 5 1,619 Assets Cash and cash equivalents $ 1,648 $ 2,245 Credit card receivables 5,666 5,069 Inventory 5,838 5,384 Other current assets 1,253 1,224 Total current assets 14,405 13,922 Property and equipment Land 4,449 3,804 Buildings and improvements 14,174 12,518 Fixtures and equipment 3,219 2,990 Computer hardware and software 2,214 1,998 Construction-in-progress 1,158 962 Accumulated depreciation (6,176) (5,412) Property and equipment, net 19,038 16,860 Other noncurrent assets 1,552 1,511 Total assets $ 34,995 $ 32,293 Liabilities and shareholders' investment Accounts payable $ 6,268 $ 5,779 Accrued and other current liabilities 2,567 1,937 Current portion of long-term debt and notes payable 753 504 Total current liabilities 9,588 8,220 Long-term debt 9, 119 9,034 Deferred income taxes 851 973 Other noncurrent liabilities 1,232 1,037 Shareholders' investment Common stock 73 74 Additional paid-in-capital 2,121 1,810 Retained earnings 12,013 11,148 Accumulated other comprehensive income (loss) (2) (3) Total shareholders' investment 14,205 13,029 Total liabilities and shareholders' equity $ 34,995 $ 32,293