If Congress voted to eliminate corporate taxes, what would be the effect on your Targets income statement and balance sheet? Defend your response.

Calculate the income tax rate for your Target. What effect will an increase in income of $$2,000,000$ have on your company?What are the effects on the balance sheet and income statement? Justify your response.

How much did your Target pay in foreign taxes last year? What percentage of its income is United States vs$.$ foreign?

V$.$ Pensions

Address the following elements in the form of a memo to your CEO:

From Target's financial information, what type of pension plan do they have? Discuss the reasons why Target has chosen this particular plan.

What was the effect of the pension plan on your Targets's financial statements? Defend your response.

Your CEO has informed you$$the controller of your company$$that the board of directors has made the decision to look at other options of types of retirement plans. Investigate what other alternatives would be available, and determine which would be appropriate for the company.