Continuing Cases

Target Case

LO19

Target Corporation prepares its financial statements according to U.S. GAAP. Targets financial statements and disclosure notes for the year ended February 3, 2018, are available in Connect. This material also is available under the Investor Relations link at the companys website (www.target.com).

Required:

1. What amounts did Target report for the following items for the year ended February 3, 2018?

   1. Total revenues

   2. Income from current operations

   3. Net income or net loss

   4. Total assets

   5. Total equity

2. What was Targets basic earnings per share for the year ended February 3, 2018?

3. What is Targets fiscal year-end? Why do you think Target chose that year-end?

4. Regarding Targets audit report:

   1. Who is Targets auditor?

   2. Did Target receive a clean (unmodified) audit opinion?

Air FranceKLM Case

LO111

Air FranceKLM (AF), a Franco-Dutch company, prepares its financial statements according to International Financial Reporting Standards. AFs financial statements and disclosure notes for the year ended December 31, 2017, are available in Connect. This material is also available under the Finance link at the companys website (www.airfranceklm.com).

Required:

1. What amounts did AF report for the following items for the year ended December 31, 2017?

   1. Total revenues

   2. Income from current operations

   3. Net income or net loss (AF equity holders)

   4. Total assets

   5. Total equity

2. What was AFs basic earnings or loss per share for the year ended December 31, 2017?

https://corporate.target.com/annual-reports/2017/10-K/10-k-cover

https://www.airfranceklm.com/sites/default/files/publications/ddr_air_france-klm_2017_va_0.pdf