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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,
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) Assets Cash and cash equivalents Inventory Other current assets 2015 2014 $6,721 $7,865 7,918 7,596 1,810 1,752 Total current assets 16,449 17,213 Property and equipment, net 29,149 25,493 Other noncurrent assets 1,032 999 Total assets $46,630 $43,705 Liabilities and shareholders' investment Accounts payable $6,857 $6,625 Accrued and other current liabilities 3,644 3,326 Current portion of long-term debt and notes payable 3,786 119 Total current liabilities 14,287 10,070 Long-term debt 13,697 15,607 Deferred income taxes 1,191 934 Other noncurrent liabilities 1,634 1,607 Total shareholders' investment 15,821 15,487 Total liabilities and shareholders' investment $46,630 $43,705 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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