Business Application Cases - Target The Business Application cases for chapters 3 through 8 are based on the Form 10-K for Target Corp. The cases allow you to apply the concepts from the text to a live case. The text Business Application cases reference the 2018 Fiscal Year reports, but we will use the more current 2021 Fiscal Year reports. You will find the complete 10- K report in a pdf file as well as an excel workbook with the financial statements posted on the Canvas course site for convenience. But I encourage you to locate them either through the SEC Edgar database (See Appendix A, Chapter 3 in the text), or by going to the Target Investor Relations web site. Chapter 7 Assignment (Adapted from ATC 71 in Text) Use the Target Corporation Form 10-K to answer the following questions related to Target's 2021 Fiscal Year. Note that Target's Fiscal Year ends in late January or early February, so the 2021 Fiscal Year ends January 29,2022 . You will need to use the financial statements as well as notes to the financial statements to answer the questions. Show your calculations and extend all decimal points at least 2 places. Show your calculations and extend all decimal points at least 2 places. a. What is the amount of Target's total liabilities at the end of FY 2021 and FY 2020 (Hint: use the Statement of Financial Position)? b. What percentage of Target's assets was being financed with liabilities at the end of FY 2021 and FY 2020 versus the percentage of assets financed with shareholders' equity (Hint: use the Statement of Financial Position)? c. Comment on the change in total liabilities in \$ amounts and as a percentage of total assets between 2021 and 2020 . Is this a positive or negative and why? d. What is the amount of debt and interest rate for Target's longest term debt due 2047-2051 as of the end of FY 2021 (Hint: use the chart in the Long Term Debt footnote)? e. Target reported Accrued and Other Current Liabilities of $6098 as of the end of FY 2021. What was the largest subcategory of liabilities included in this account (Hint: use the footnotes beginning on page 43)? Consolidated Statements of Financial Position - USD (\$) \$in Millions Jan. 29, 2022 Jan. 30, 2021 Assets Cash and cash equivalents Inventory Other current assets Total current assets Property and equipment Land Buildings and improvements Fixtures and equipment Computer hardware and software Construction-in-progress Accumulated depreciation Property and equipment, net Operating lease assets Other noncurrent assets Total assets Liabilities and shareholders' investment Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Total current liabilities Long-term debt and other borrowings Noncurrent operating lease liabilities \begin{tabular}{rr} $5,911 & 58,511 \\ 13,902 & 10,653 \\ 1,760 & 1,592 \\ \hline 21,573 & 20,756 \\ 6,164 & 6,141 \\ 32,985 & 31,557 \\ 6,407 & 5,914 \\ 2,505 & 2,765 \\ 1,257 & 780 \\ (21,137) & (20,278) \\ 28,181 & 26,879 \\ 2,556 & 2,227 \\ 1,501 & 1,386 \\ \hline 53,811 & 51,248 \\ 15,478 & \\ 6,098 & 12,859 \\ 171 & 6,122 \\ \hline 21,747 & 1,144 \\ 13,549 & 20,125 \\ 2,493 & 11,536 \\ 1,566 & 2,218 \\ \hline 990 \end{tabular} Common Stock Authorized 6,000,000,000 shares, $0.0833 par value; 471,274,073 shares issued and outstanding as of January 29,2022; 500,877,129 shares issued and outstanding as of January 30,2021. Preferred Stock Authorized 5,000,000 shares, $0.01 par value; no shares were issued or outstanding during any period presented. Investing activities Expenditures for property and equipment (3,544) (2,649) (3,027) Proceeds from disposal of property and equipment Proceeds from Dermstore sale Other investments Cash required for investing activities Financing activities Additions to long-term debt Reductions of long-term debt Dividends paid Repurchase of stock Stock option exercises Cash required for financing activities Net (decrease)/ increase In cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period \begin{tabular}{rrr} 27 & 42 & 63 \\ 356 & 0 & 0 \\ 7 & 16 & 20 \\ \hline(3,154) & (2,591) & (2,944) \\ 1,972 & 2,480 & 1,739 \\ (1,147) & (2,415) & (2,069) \\ (1,548) & (1,343) & (1,330) \\ (7,356) & (745) & (1,565) \\ 8 & 23 & 73 \\ \hline(8,071) & (2,000) & (3,152) \\ \hline(2,600) & 5,934 & 1,021 \\ \hline 8,511 & 2,577 & 1,556 \\ \hline 5,911 & 8,511 & 2,577 \end{tabular} Target embraces innovation to drive strong financial performance and create new opportunities for profi Stock quote (i) 720232 NYSE:TGT Explore ou stock char Learn more ' Business Application Cases - Target The Business Application cases for chapters 3 through 8 are based on the Form 10-K for Target Corp. The cases allow you to apply the concepts from the text to a live case. The text Business Application cases reference the 2018 Fiscal Year reports, but we will use the more current 2021 Fiscal Year reports. You will find the complete 10- K report in a pdf file as well as an excel workbook with the financial statements posted on the Canvas course site for convenience. But I encourage you to locate them either through the SEC Edgar database (See Appendix A, Chapter 3 in the text), or by going to the Target Investor Relations web site. Chapter 7 Assignment (Adapted from ATC 71 in Text) Use the Target Corporation Form 10-K to answer the following questions related to Target's 2021 Fiscal Year. Note that Target's Fiscal Year ends in late January or early February, so the 2021 Fiscal Year ends January 29,2022 . You will need to use the financial statements as well as notes to the financial statements to answer the questions. Show your calculations and extend all decimal points at least 2 places. Show your calculations and extend all decimal points at least 2 places. a. What is the amount of Target's total liabilities at the end of FY 2021 and FY 2020 (Hint: use the Statement of Financial Position)? b. What percentage of Target's assets was being financed with liabilities at the end of FY 2021 and FY 2020 versus the percentage of assets financed with shareholders' equity (Hint: use the Statement of Financial Position)? c. Comment on the change in total liabilities in \$ amounts and as a percentage of total assets between 2021 and 2020 . Is this a positive or negative and why? d. What is the amount of debt and interest rate for Target's longest term debt due 2047-2051 as of the end of FY 2021 (Hint: use the chart in the Long Term Debt footnote)? e. Target reported Accrued and Other Current Liabilities of $6098 as of the end of FY 2021. What was the largest subcategory of liabilities included in this account (Hint: use the footnotes beginning on page 43)? Consolidated Statements of Financial Position - USD (\$) \$in Millions Jan. 29, 2022 Jan. 30, 2021 Assets Cash and cash equivalents Inventory Other current assets Total current assets Property and equipment Land Buildings and improvements Fixtures and equipment Computer hardware and software Construction-in-progress Accumulated depreciation Property and equipment, net Operating lease assets Other noncurrent assets Total assets Liabilities and shareholders' investment Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Total current liabilities Long-term debt and other borrowings Noncurrent operating lease liabilities \begin{tabular}{rr} $5,911 & 58,511 \\ 13,902 & 10,653 \\ 1,760 & 1,592 \\ \hline 21,573 & 20,756 \\ 6,164 & 6,141 \\ 32,985 & 31,557 \\ 6,407 & 5,914 \\ 2,505 & 2,765 \\ 1,257 & 780 \\ (21,137) & (20,278) \\ 28,181 & 26,879 \\ 2,556 & 2,227 \\ 1,501 & 1,386 \\ \hline 53,811 & 51,248 \\ 15,478 & \\ 6,098 & 12,859 \\ 171 & 6,122 \\ \hline 21,747 & 1,144 \\ 13,549 & 20,125 \\ 2,493 & 11,536 \\ 1,566 & 2,218 \\ \hline 990 \end{tabular} Common Stock Authorized 6,000,000,000 shares, $0.0833 par value; 471,274,073 shares issued and outstanding as of January 29,2022; 500,877,129 shares issued and outstanding as of January 30,2021. Preferred Stock Authorized 5,000,000 shares, $0.01 par value; no shares were issued or outstanding during any period presented. Investing activities Expenditures for property and equipment (3,544) (2,649) (3,027) Proceeds from disposal of property and equipment Proceeds from Dermstore sale Other investments Cash required for investing activities Financing activities Additions to long-term debt Reductions of long-term debt Dividends paid Repurchase of stock Stock option exercises Cash required for financing activities Net (decrease)/ increase In cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period \begin{tabular}{rrr} 27 & 42 & 63 \\ 356 & 0 & 0 \\ 7 & 16 & 20 \\ \hline(3,154) & (2,591) & (2,944) \\ 1,972 & 2,480 & 1,739 \\ (1,147) & (2,415) & (2,069) \\ (1,548) & (1,343) & (1,330) \\ (7,356) & (745) & (1,565) \\ 8 & 23 & 73 \\ \hline(8,071) & (2,000) & (3,152) \\ \hline(2,600) & 5,934 & 1,021 \\ \hline 8,511 & 2,577 & 1,556 \\ \hline 5,911 & 8,511 & 2,577 \end{tabular} Target embraces innovation to drive strong financial performance and create new opportunities for profi Stock quote (i) 720232 NYSE:TGT Explore ou stock char Learn more