Hello,
I need help answering these last two questions. I've provided the balance sheets below.
1) First, compare Targets 2014 net income to its 2015 net income. Next, compare Targets 2014 cash provided by operating activities to its 2015 cash provided by operating activities. Which changed the most from 2014 to 2015, net earnings or cash provided by operating activities?
2)What percentage of Targets sales go to pay for the costs of the goods being sold?
$ 4,046 $ 8,601 322 1,161 14,130 2,210 8,282 1,058 2,074 13,624 6,125 27,059 5,347 2,617 315 (16,246) 25,217 75 840 40,262 $ 6,127 26,613 5,329 2,552 424 (15,093) 25,952 717 879 41,172 $ Assets Cash and cash equivalents, including short-term investments of $3,008 and $1,520 Inventory Assets of discontinued operations 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 Noncurrent assets of discontinued operations 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 Liabilities of discontinued operations Total current liabilities Long-term debt and other borrowings Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities Total noncurrent liabilities Shareholders' investment Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Pension and other benefit liabilities Currency translation adjustment and cash flow hedges Total shareholders' investment Total liabilities and shareholders' investment $ 7,418 $ 4,236 815 153 12,622 11,945 823 18 1.897 14,683 7,759 3,783 91 103 11,736 12,634 1,160 193 1,452 15,439 50 5,348 8,188 53 4,899 9,644 (588) (41) 12,957 40,262 $ (561) (38) 13,997 41,172 $ Consolidated Statements of Cash Flows 2015 2014 2013 $ 3,363 $ 42 3.321 (1.636) $ (4.085) 2.449 1.971 (723) 2.694 2.213 115 (322) (620) 2.129 71 7 1.996 106 58 (391) 445 87 285 40 (12) (316) 227 534 5.140 704 5.844 (512) (115) 777 5,131 (692) 4.439 157 2.703 (504) (79) 247 7.519 1999) 6.520 (millions) Operating activities Net earnings / (los) Earnings / (losses) from discontinued operations, net of tax Net earnings from continuing operations Adjustments to reconcile net earings to cash provided by operations: Depreciation and amortization Share-based compensation expense Deferred income taxes Gain on sale Loss on debl extinguishment Noncash (gains)/losses and other, net Changes in operating accounts: Accounts receivable originated at Target Proceeds on sale of accounts receivable originated at Target Inventory Other assets Accounts payable and accrued liabilities Cash provided by operating activities-continuing operations Cash provided by / (required for) operating activities--discontinued operations Cash provided by operations Investing activities Expenditures for property and equipment Proceeds from disposal of property and equipment Proceeds from sale of businesses Change in accounts receivable originated at third parties Proceeds from sale of accounts receivable originated at third parties Cash paid for acquisitions, net of cash assumed Other investments Cash provided by /(required for investing activities-continuing operations Cash provided by/(required for) investing activities discontinued operations Cash provided by/(required for investing activities Financing activities Change in commercial paper, net Additions to long-term debt Reductions of long-term debt Dividends paid Repurchase of stock Stock option exercises and related tax benefit Cash required for financing activities Effect of exchange rate changes on cash and cash equivalents Net increase / (decrease) 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 (1.438) 28 1.875 (1.786) 95 (1.886) 70 - 24 489 19 508 (20) 106 (1.605) (321) (1.926) 121 3.002 (157) 130 1.280 (1,551 (271) - (890) (80) 1,993 (2.079) (1.205) (85) (1.362) (3.438) 369 (4.516) 373 1998) (3.463) (1.006) (1.461) 456 16,364) 26 (89) 784 695 1.836 2.210 4,046 $ 1,515 695 2.210 $ $ $ 604 $ 871 $ 1,043 (1,636) Consolidated Statements of Shareholders' Investment Common Stock Additional Accumulated Other Stock Par Paid in Retained (millions, except footnotes) Comprehensive Shares Value Capital Earnings Income/(Loss) Total February 2, 2013 645.3 $ 54 $ 3,925 $ 13,155 $ (576) $ 16,558 1,971 1,971 Other comprehensive income (315) (315) Dividends declared (1,051) (1,051) Repurchase of stock (2) (1,478) Stock options and awards 9.5 1 545 546 February 1, 2014 632.9 $ 53 $ 4,470 $ 12,599 $ (891) $ 16,231 Ne (1,636) Other comprehensive loss 292 292 Dividends declared (1,273) (1.273) Repurchase of stock (0.8) (46) (46) Stock options and awards 8.1 429 429 January 31, 2015 640.2 S 53 $ 4,899 $ 9,644 $ (599) $ 13,997 Net earnings 3,363 3,363 Other comprehensive income th (30) (30) Dividends declared (1,378) (1,378) Repurchase of stock (44.7) (4) (3,445) Stock options and awards 6.7 1 449 450 January 30, 2016 602.2 $ 50 $ 5,348 $ 8,188 S (629) $ 12,957 Dividends declared per share were $2.20, $1.99, and $1.65 in 2015, 2014, and 2013, respectively. See accompanying Notes to Consolidated Financial Statements. Net earnings (21.9) (1,476) Net loss - 1111111111 (3,441) $ 4,046 $ 8,601 322 1,161 14,130 2,210 8,282 1,058 2,074 13,624 6,125 27,059 5,347 2,617 315 (16,246) 25,217 75 840 40,262 $ 6,127 26,613 5,329 2,552 424 (15,093) 25,952 717 879 41,172 $ Assets Cash and cash equivalents, including short-term investments of $3,008 and $1,520 Inventory Assets of discontinued operations 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 Noncurrent assets of discontinued operations 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 Liabilities of discontinued operations Total current liabilities Long-term debt and other borrowings Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities Total noncurrent liabilities Shareholders' investment Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Pension and other benefit liabilities Currency translation adjustment and cash flow hedges Total shareholders' investment Total liabilities and shareholders' investment $ 7,418 $ 4,236 815 153 12,622 11,945 823 18 1.897 14,683 7,759 3,783 91 103 11,736 12,634 1,160 193 1,452 15,439 50 5,348 8,188 53 4,899 9,644 (588) (41) 12,957 40,262 $ (561) (38) 13,997 41,172 $ Consolidated Statements of Cash Flows 2015 2014 2013 $ 3,363 $ 42 3.321 (1.636) $ (4.085) 2.449 1.971 (723) 2.694 2.213 115 (322) (620) 2.129 71 7 1.996 106 58 (391) 445 87 285 40 (12) (316) 227 534 5.140 704 5.844 (512) (115) 777 5,131 (692) 4.439 157 2.703 (504) (79) 247 7.519 1999) 6.520 (millions) Operating activities Net earnings / (los) Earnings / (losses) from discontinued operations, net of tax Net earnings from continuing operations Adjustments to reconcile net earings to cash provided by operations: Depreciation and amortization Share-based compensation expense Deferred income taxes Gain on sale Loss on debl extinguishment Noncash (gains)/losses and other, net Changes in operating accounts: Accounts receivable originated at Target Proceeds on sale of accounts receivable originated at Target Inventory Other assets Accounts payable and accrued liabilities Cash provided by operating activities-continuing operations Cash provided by / (required for) operating activities--discontinued operations Cash provided by operations Investing activities Expenditures for property and equipment Proceeds from disposal of property and equipment Proceeds from sale of businesses Change in accounts receivable originated at third parties Proceeds from sale of accounts receivable originated at third parties Cash paid for acquisitions, net of cash assumed Other investments Cash provided by /(required for investing activities-continuing operations Cash provided by/(required for) investing activities discontinued operations Cash provided by/(required for investing activities Financing activities Change in commercial paper, net Additions to long-term debt Reductions of long-term debt Dividends paid Repurchase of stock Stock option exercises and related tax benefit Cash required for financing activities Effect of exchange rate changes on cash and cash equivalents Net increase / (decrease) 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 (1.438) 28 1.875 (1.786) 95 (1.886) 70 - 24 489 19 508 (20) 106 (1.605) (321) (1.926) 121 3.002 (157) 130 1.280 (1,551 (271) - (890) (80) 1,993 (2.079) (1.205) (85) (1.362) (3.438) 369 (4.516) 373 1998) (3.463) (1.006) (1.461) 456 16,364) 26 (89) 784 695 1.836 2.210 4,046 $ 1,515 695 2.210 $ $ $ 604 $ 871 $ 1,043 (1,636) Consolidated Statements of Shareholders' Investment Common Stock Additional Accumulated Other Stock Par Paid in Retained (millions, except footnotes) Comprehensive Shares Value Capital Earnings Income/(Loss) Total February 2, 2013 645.3 $ 54 $ 3,925 $ 13,155 $ (576) $ 16,558 1,971 1,971 Other comprehensive income (315) (315) Dividends declared (1,051) (1,051) Repurchase of stock (2) (1,478) Stock options and awards 9.5 1 545 546 February 1, 2014 632.9 $ 53 $ 4,470 $ 12,599 $ (891) $ 16,231 Ne (1,636) Other comprehensive loss 292 292 Dividends declared (1,273) (1.273) Repurchase of stock (0.8) (46) (46) Stock options and awards 8.1 429 429 January 31, 2015 640.2 S 53 $ 4,899 $ 9,644 $ (599) $ 13,997 Net earnings 3,363 3,363 Other comprehensive income th (30) (30) Dividends declared (1,378) (1,378) Repurchase of stock (44.7) (4) (3,445) Stock options and awards 6.7 1 449 450 January 30, 2016 602.2 $ 50 $ 5,348 $ 8,188 S (629) $ 12,957 Dividends declared per share were $2.20, $1.99, and $1.65 in 2015, 2014, and 2013, respectively. See accompanying Notes to Consolidated Financial Statements. Net earnings (21.9) (1,476) Net loss - 1111111111 (3,441)
