refer 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 the 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.

a. How much in cash and cash equivalents did Target have during the current FY?

Answer: $_______million

b. Did cash increase or decrease from the prior year?

c. What were the company's total assets for the current FY?

Answer: $________million

d. What were the company's total assets for the prior FY?

Answer: $________million

e. Write the company's accounting equation for the current FY using dollar amounts.

Answer: $ million = $ million + $

f. Identify total net revenues for the current FY.

Answer: $________million

g. How much did revenues increase or decrease from the prior year.

Answer: $ million (Type either Increase or Decrease in second blank space.)

Note: If there is a decrease in revenue, do not type parenthesis or negative sign in the first blank space designated for the dollar amount.

h. How much net income/loss (net earnings/loss) did Target report for the current FY?

Answer: $________million

i. Were earnings better or worse than the prior year?

j. Calculate return on assets for the current FY. See page 22 of the textbook. Round to one decimal place.

Answer: _____%

k. What does return on net assets tell us?

l. Calculate the debt ratio for the current FY. See page 78 of the textbook. Round to the nearest whole percentage.

Answer: ____%

m. Review Note 14 (Property and Equipment) (page 42 of the annual report). How is depreciation of these assets calculated?

Please type exactly as it appears in Note 14.

n. Review Note 14 (Property and Equipment) (page 42 of the annual report). What is the range of useful lives used when depreciating these assets?

Please type exactly as it appears in Note 14.