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Common-Size Balance Sheets Following is the balance sheet for Target Corporation. Prepare Target's common-size balance sheets as of January 31, 2015 and February 1, 2014.
Common-Size Balance Sheets Following is the balance sheet for Target Corporation. Prepare Target's common-size balance sheets as of January 31, 2015 and February 1, 2014. January 31, February 1, ($ millions) 2015 2014 Assets Cash and cash equivalents $7,801 $9,865 Inventory 8,918 8,596 Other current assets 2,810 2,752 Total current assets 19,529 21,213 Property and equipment, net 31,149 26,493 Other noncurrent assets 1,132 1,999 Total assets $51,810 $49,705 Liabilities and shareholders' investment Accounts payable $7,857 $7,625 Accrued and other current liabilities 4,644 4,326 Current portion of long-term debt and notes payable 4,786 1,119 Total current liabilities 17,287 13,070 Long-term debt 15,697 18,607 Deferred income taxes 1,291 934 Other noncurrent liabilities 1,714 1,607 Total shareho investment 15,821 15,487 Total liabilities and shareholders' investment $51,810 $49,705 Note: Round your answers to one decimal place (ex: 0.0715 = 7.2%). TARGET CORPORATION Common-Size Balance Sheets 2015 2014 % % Cash and cash equivalents Inventory Other current assets % % % % Total current assets % % Property and equipment, net % % Other noncurrent assets % % Total assets % % % % Accounts payable Accrued and other current liabilities % % % % % % % % % Current portion of long-term debt and notes payable Total current liabilities Long-term debt Deferred income taxes Other noncurrent liabilities Total shareholders' investment % % % % % % Total liabilities and shareholders' investment % %
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