Link to the Target 2016 annual report- https://corporate.target.com/annual-reports/pdf-viewer-2016?cover=28067&parts=28073

On page 32 of the annual report is Target Income statement (called the Consolidated Statements of Operations). On page 34 is the Balance Sheet (called the Consolidated Statements of Financial Position).

Note: the Balance Sheet ending date for current Fiscal Year (FY) 2016 is January 28, 2017. The Balance Sheet ending date for prior FY 2015 is January 30, 2016.

Requirements: Answer the following questions using Target 2016 Annual Report. You may work with another student but the work must be on your own. Use correct formatting and proper grammar. The financial reports are stated in millions of dollars. When possible, please write answers exactly as they appear in the financial statements. Include commas when writing dollar amounts. Do not include dollar signs. Do not include the word million. Do not include the % sign.

Question 5. Determine the cash ratio for the prior FY. Round to two decimal places. See page 453 in the textbook. (Subtract short-term investments from the cash and cash equivalents balance on the balance sheet.)

Answer: ______

Question 6. How much accounts receivables did Target report for the current FY? If none, write zero.

Answer: $______million

Question 7. Compute the acid test ratio for the current FY. Round to one decimal place.

Question 8. Is Target capable of paying all current liabilities if they became due immediately, as of the end of the current FY?

Yes

No