Corporation: TARGET CORPORATION

Please provide quantitative analysis from Chapter 13,14,15(3 years trend analysis, 3 years current ratio, 3 years debt ratio, 3 years stock price trends including EPS and P/E ratio). Use your 10-K report or Yahoo finance to find stock price trends, including EPS (eps is on the Statement of Operations), and compute the P/E ratio.

1. 3 years trend analysis for net income and net sales/revenue

2. 3 years current ratio

3. 3 years debt ratio

4. 3 years stock prices-2019, 2018, 2017use the internet or yahoo finance

5. 3 years EPS

6. 3 years P/E ratio

FINANCIAL STATEMENTS Consolidated Statements of Financial Position February 1, February 2 (millions, except footnotes) 2020 2019 Assets Cash and cash equivalents 2,577 $ 1.556 Inventory 8,992 9,497 Other current assets 1,333 1,466 Total current assets 12.902 12,519 Property and equipment Land 6,036 6,064 Buildings and improvements 30,603 29.240 Fixtures and equipment 6.083 5,912 Computer hardware and software 2,692 2,544 Construction-in-progress 533 460 Accumulated depreciation (19,664) (18,687) Property and equipment, net 26,283 25,533 Operating lease assets 2,236 1.965 Other noncurrent assets 1,358 1.273 Total assets 42,779 $ 41,290 Liabilities and shareholders' investment Accounts payable 9,920 $ 9,761 Accrued and other current liabilities 4,406 4,201 Current portion of long-term debt and other borrowings 161 1,052 Total current liabilities 14,487 15,014 Long-term debt and other borrowings 11.338 10.223 Noncurrent operating lease liabilities 2,275 2.004 Deferred income taxes 1.122 972 Other noncurrent liabilities 1,724 1.780 Total noncurrent liabilities 16,459 14,979 Shareholders investment Common stock 42 43 Additional paid.in capital 6,226 6,042 Retained earnings 6,433 6,017 Accumulated other comprehensive loss (868) (805) Total shareholders investment 11.833 11,297 Total liabilities and shareholders' investment 42.779 $ 41,290 Common Stock Authorized 6,000,000,000 shares, 50.0833 par value; 504.198,962 shares issued and outstanding as of February 1, 2020 517,761,600 shares issued and outstanding as of February 2, 2019. Preferred Stock Authorized 5,000,000 shares, 50.01 par value, no shares were issued or outstanding during any period presented. See accompanying Notes to Consolidated Financial Statements $ Consolidated Statements of Operations $ (millions, except per share data) Sales Other revenue Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net other (income) / expense Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings Basic earnings per share Continuing operations Discontinued operations Net earnings per share Diluted earnings per share Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding Basic Diluted Antidilutive shares Note: Per share amounts may not foot due to rounding. 2019 77,130 $ 982 78,112 54,864 16,233 2,357 4,658 477 (9) 4,190 921 3,269 12 3,281 $ 2018 74,433 $ 923 75,356 53,299 15,723 2,224 4,110 461 (27) 3,676 746 2,930 7 2,937 $ 2017 71,786 928 72,714 51,125 15,140 2,225 4,224 653 (59) 3,630 722 2,908 6 2,914 $ $ 6.39 $ 0.02 6.42 $ 5.54 $ 0.01 5.55 $ 5.32 0.01 5.32 $ $ 6.34 $ 0.02 6.36 $ 5.50 $ 0.01 5.51 $ 5.29 0.01 5.29 $ 510.9 515.6 528.6 533.2 546.8 550.3 4.1 See accompanying Notes to Consolidated Financial Statements. Consolidated Statements of Comprehensive Income 2019 3,281 $ 2018 2,937 $ 2017 2,914 $ (millions) Net earnings Other comprehensive (loss)/income, net of tax Pension and other benefit liabilities, net of tax Currency translation adjustment and cash flow hedges, net of tax Other comprehensive (loss) /income Comprehensive income 2 6 (65) 2 (63) 3,218 $ (52) (6) (58) 2,879 $ 8 2,922 See accompanying Notes to Consolidated Financial Statements. 2019 2018 2017 $ $ 3,281 12 3,269 2,937 $ 7 2,930 2,914 6 2,908 2,604 147 178 10 29 2,474 132 322 2,476 112 (188) 123 208 95 505 18 140 199 7,099 18 7.117 (900) (299) 1,127 89 5,970 3 5,973 (348) (156) 1,307 419 6,861 74 6,935 Consolidated Statements of Cash Flows (millions) Operating activities Net earnings Earnings from discontinued operations, net of tax Net earnings from continuing operations Adjustments to reconcile net earnings to cash provided by operations: Depreciation and amortization Share-based compensation expense Deferred income taxes Loss on debt extinguishment Noncash losses/(gains) and other, net Changes in operating accounts: Inventory Other assets Accounts payable Accrued and other liabilities Cash provided by operating activities-continuing operations Cash provided by operating activities discontinued operations Cash provided by operations Investing activities Expenditures for property and equipment Proceeds from disposal of property and equipment Cash paid for acquisitions, net of cash assumed 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 Supplemental information Interest paid, net of capitalized interest Income taxes paid Leased assets obtained in exchange for new finance lease liabilities Leased assets obtained in exchange for new operating lease liabilities (3,027) 63 (3,516) 85 (2,533) 31 (518) (55) (3,075) 15 20 (2,944) (3,416) 1,739 (2,069) (1,330) (1,565) 73 (3,152) 1.021 1,556 2,577 $ (281) (1,335) (2,124) 96 (3,644) (1,087) 2,643 1,556 $ 739 (2,192) (1,338) (1.046) 108 (3,729) 131 2,512 2,643 $ $ 492 $ 696 379 464 476 $ 373 130 246 678 934 139 212 FINANCIAL STATEMENTS Consolidated Statements of Financial Position February 1, February 2 (millions, except footnotes) 2020 2019 Assets Cash and cash equivalents 2,577 $ 1.556 Inventory 8,992 9,497 Other current assets 1,333 1,466 Total current assets 12.902 12,519 Property and equipment Land 6,036 6,064 Buildings and improvements 30,603 29.240 Fixtures and equipment 6.083 5,912 Computer hardware and software 2,692 2,544 Construction-in-progress 533 460 Accumulated depreciation (19,664) (18,687) Property and equipment, net 26,283 25,533 Operating lease assets 2,236 1.965 Other noncurrent assets 1,358 1.273 Total assets 42,779 $ 41,290 Liabilities and shareholders' investment Accounts payable 9,920 $ 9,761 Accrued and other current liabilities 4,406 4,201 Current portion of long-term debt and other borrowings 161 1,052 Total current liabilities 14,487 15,014 Long-term debt and other borrowings 11.338 10.223 Noncurrent operating lease liabilities 2,275 2.004 Deferred income taxes 1.122 972 Other noncurrent liabilities 1,724 1.780 Total noncurrent liabilities 16,459 14,979 Shareholders investment Common stock 42 43 Additional paid.in capital 6,226 6,042 Retained earnings 6,433 6,017 Accumulated other comprehensive loss (868) (805) Total shareholders investment 11.833 11,297 Total liabilities and shareholders' investment 42.779 $ 41,290 Common Stock Authorized 6,000,000,000 shares, 50.0833 par value; 504.198,962 shares issued and outstanding as of February 1, 2020 517,761,600 shares issued and outstanding as of February 2, 2019. Preferred Stock Authorized 5,000,000 shares, 50.01 par value, no shares were issued or outstanding during any period presented. See accompanying Notes to Consolidated Financial Statements $ Consolidated Statements of Operations $ (millions, except per share data) Sales Other revenue Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net other (income) / expense Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings Basic earnings per share Continuing operations Discontinued operations Net earnings per share Diluted earnings per share Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding Basic Diluted Antidilutive shares Note: Per share amounts may not foot due to rounding. 2019 77,130 $ 982 78,112 54,864 16,233 2,357 4,658 477 (9) 4,190 921 3,269 12 3,281 $ 2018 74,433 $ 923 75,356 53,299 15,723 2,224 4,110 461 (27) 3,676 746 2,930 7 2,937 $ 2017 71,786 928 72,714 51,125 15,140 2,225 4,224 653 (59) 3,630 722 2,908 6 2,914 $ $ 6.39 $ 0.02 6.42 $ 5.54 $ 0.01 5.55 $ 5.32 0.01 5.32 $ $ 6.34 $ 0.02 6.36 $ 5.50 $ 0.01 5.51 $ 5.29 0.01 5.29 $ 510.9 515.6 528.6 533.2 546.8 550.3 4.1 See accompanying Notes to Consolidated Financial Statements. Consolidated Statements of Comprehensive Income 2019 3,281 $ 2018 2,937 $ 2017 2,914 $ (millions) Net earnings Other comprehensive (loss)/income, net of tax Pension and other benefit liabilities, net of tax Currency translation adjustment and cash flow hedges, net of tax Other comprehensive (loss) /income Comprehensive income 2 6 (65) 2 (63) 3,218 $ (52) (6) (58) 2,879 $ 8 2,922 See accompanying Notes to Consolidated Financial Statements. 2019 2018 2017 $ $ 3,281 12 3,269 2,937 $ 7 2,930 2,914 6 2,908 2,604 147 178 10 29 2,474 132 322 2,476 112 (188) 123 208 95 505 18 140 199 7,099 18 7.117 (900) (299) 1,127 89 5,970 3 5,973 (348) (156) 1,307 419 6,861 74 6,935 Consolidated Statements of Cash Flows (millions) Operating activities Net earnings Earnings from discontinued operations, net of tax Net earnings from continuing operations Adjustments to reconcile net earnings to cash provided by operations: Depreciation and amortization Share-based compensation expense Deferred income taxes Loss on debt extinguishment Noncash losses/(gains) and other, net Changes in operating accounts: Inventory Other assets Accounts payable Accrued and other liabilities Cash provided by operating activities-continuing operations Cash provided by operating activities discontinued operations Cash provided by operations Investing activities Expenditures for property and equipment Proceeds from disposal of property and equipment Cash paid for acquisitions, net of cash assumed 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 Supplemental information Interest paid, net of capitalized interest Income taxes paid Leased assets obtained in exchange for new finance lease liabilities Leased assets obtained in exchange for new operating lease liabilities (3,027) 63 (3,516) 85 (2,533) 31 (518) (55) (3,075) 15 20 (2,944) (3,416) 1,739 (2,069) (1,330) (1,565) 73 (3,152) 1.021 1,556 2,577 $ (281) (1,335) (2,124) 96 (3,644) (1,087) 2,643 1,556 $ 739 (2,192) (1,338) (1.046) 108 (3,729) 131 2,512 2,643 $ $ 492 $ 696 379 464 476 $ 373 130 246 678 934 139 212