please solve using data given

1. Fixed asset analysis: a. b. Calculate Target's PP&E turnover for the past 2 years (round to 4 decimal places). Has it increased or decreased? What does this imply? Calculate the percent used up of Target's depreciable assets for the past 3 years (round to 4 decimal places). What does this information tell you about future capital expenditures? Did this ratio increase or decrease from scal 2017 to 2018? Interpret the change. Calculate the estimated useful life of Target's depreciable assets for the past 3 years (round to 4 decimal places). (Hint: Target aggregates depreciation and amortization on the income statement but discloses amortization expense in the Goodwill and Intangible Asset footnote). What does this life imply about the mix of Target's assets? What does the change in the average life from scal 2017 to 2018 imply about the change in the mix of assets? Consolidated Statements of Operations , , 2017 2016 (millions, except per share data) 2018 As Acy'ustea' {6' As Adjusted \"'1' Sales $ 74,433 $ 71,786 $ 69,414 Other revenue 923 928 857 Total revenue 75,356 72,714 70,271 Cost of sales 53,299 51,125 49,145 Selling, general and administrative expenses 15,723 15,140 14,217 Depreciation and amortization (exclusive of depreciation included in cost of sales) 2,224 2,225 2,045 Operating income 4,110 4,224 4,864 Net interest expense 461 653 991 Net other (income) I expense (27) (59) (88) Earnings from continuing operations before income taxes 3,676 3,630 3,961 Provision for income taxes 746 722 1,295 Net earnings from continuing operations 2,930 2,908 2,666 Discontinued Operations, net of tax 7 6 68 Net earnings $ 2,937 $ 2,914 $ 2,734 Basic earnings per share Continuing operations $ 5.54 $ 5.32 $ 4.61 Discontinued operations 0.01 0.01 0.12 Net earnings per share $ 5.55 $ 5.32 $ 4.73 Diluted earnings per share Continuing operations $ 5.50 $ 5.29 $ 4.58 Discontinued operations 0.01 0.01 0.12 Net earnings per share $ 5.51 $ 5.29 $ 4.69 Weighted average common shares outstanding Basic 528.6 546.8 577.6 Diluted 533.2 550.3 582.5 Antidilutive shares 4.1 0.1 Note: Per share amounts may not foot due to rounding. See accompanying Notes to Consolidated Financial Statements. ('9) Refer to Note 2 regarding the adoption of new accounting standards for revenue recognition, leases, and pensions. Consolidated Statements of Comprehensive Income (millions) 2017 2018 As Adjusted () 2016 As Adjusted () Net earnings $ 2,937 $ 2,914 $ 2,734 Other comprehensive (loss) / income, net of tax Pension and other benefit liabilities, net of tax (52) 2 (13) Currency translation adjustment and cash flow hedges, net of tax (6) 6 4 Other comprehensive (loss) / income (58) 8 9 Comprehensive income $ 2,879 $ 2,922 $ 2,725 See accompanying Notes to Consolidated Financial Statements. (a) Refer to Note 2 regarding the adoption of new accounting standards for revenue recognition, leases, and pensions.Consolidated Statements of Financial Position February 3, Febmary 2, 201 3 (millions, except footnotes) 201 9 As Acusted f\" Assets Cash and cash equivalents $ 1,556 $ 2,643 Inventory 9,497 8,597 Other current assets 1,466 1,300 Total current assets 12,519 12,540 Property and equipment Land 6,064 8.095 Buildings and improvements 29,240 28,131 Fixtures and equipment 5,912 5,623 Computer hardware and software 2,544 2,645 Construcon-in-progress 460 440 Accumulated depreciation (18,687) (18,398) Property and equipment, net 25,533 24,536 Operating lease assets 1,965 1,884 Other noncurrent assets 1,273 1,343 Total assets 55 41,290 $ 40,303 Liabilities and shareholders' Investment Accounts payable $ 9,761 $ 8,677 Accrued and other current liabilities 4,201 4,094 Current portion of long-ten'n debt and other borrowings 1,052 281 Total current liabilities 15,014 13,052 Long-ten'n debt and other borrowings 10,223 11,1 17 Noncurrent operating lease liabilities 2,004 1,924 Deferred income taxes 972 693 Other noncurrent liabilities 1,780 1,866 Total noncurre nt liabilities 1 4,979 1 5,600 Shareholders' investment Common stock 43 45 Additional paid-in capital 6,042 5,858 Retained earnings 6,017 8,495 Accumulated other comprehensive loss (805) (747) Total shareholders' investment 1 1,297 1 1,651 Total liabilities and shareholders' Investment $ 41 ,290 $ 40,303 Common Stock Authorized 8,000,000,000 shares, $00833 par value; 517,781,800 shares issued and outstanding at February 2, 2019; 541,681,870 shares issued and outstanding at February 3, 2018. Preferred Stock Authorized 5,000,000 shares, $0.01 par value; no shares were issued or outstanding at Febmary 2, 2019 or February 3, 2018. See accompanying Notes to Consolidated Financial Statements. (a) Refer to Note 2 regarding the adoption of new accounting standards for revenue recognition, leases, and pensions. 37 Consolidated Statements of Cash Flows 2017 2018 (millions) 2013 As Adjusted 19* AsAoiiusted M Operating activities Net earnings $ 2,937 3 2,914 3 2.734 Eamings from discontinued operations. net of tax 7 8 88 Net earnings from continuing operations 2,930 2,908 2.888 Adjustments to reconcile net earnings to cash provided by operations: Depreciation and amortization 2,474 2,478 2.318 Share-based compensation expense 132 112 113 Defened income taxes 322 (188) 40 Loss on debt extinguishment 123 422 Noncesh losses .-' (gains) and other, net 95 208 (11) Changes in operating accounts: Inventory (900) (348) 293 Other assets (299) (158) 58 Accounts payable 1,127 1,307 (188) Accrued and other liabilities 89 419 (394) Cash provided by operating activitiescontinuing operations 5,970 8,881 5.33? Cash provided by operating activitiesdiscontinued operations 3 74 107 Cash provided by operations 5,973 8,935 5.444 Investing activities Expand itures for property and equipment (3,513) (2,533) (1.547) Proceeds from disposal of property and aquipme nt 85 31 48 Cash paid for acquisitions. net of cash assumed (518) Other investments 15 (55) 28 Cash required for investing activities (3,418) (3,075) (1.473) Financing activities Additions to long-term debt 739 1.977 Reductions of long-term debt (281) (2,192) (2,649) Dividends paid (1,335) (1,338) (1.348) Repurchase of stock (2,124) (1,048) (3,708) Stock option exercises 98 108 221 Cash required for nancing activities (3,844) (3,729) (5,505) Net (decrease)! increase in cash and cash equivalents (1,087) 131 (1.534) Cash and cash equivalents at beginning of period 2,843 2,512 4,048 Cash and cash equivalents at end of period $ 1,558 3 2,843 $ 2.512 Supplemental information Interest paid. net of capitalized interest 8 475 3 878 3 999 Income taxes paid 373 934 1,514 Leased assets obtained in exchange for new nance lease liabilities 130 139 252 Leased assets obtained in exchange for new operating lease liabilities 248 212 148 See accompanying Notes to Consolidated Financial Statements. (3) Refer to Note 2 regarding the adoption of new accounting standards for revenue recognition, leases, and pensions