ren. 2, 2019 Feb. 3, 2018 $1,556 9,497 1,466 12,519 $2,643 8,597 1,300 12,540 6,064 29,240 5,912 2,544 460 (18,687) 25,533 1,965 1,273 $41,290 6,095 28,131 5,623 2,645 440 (18,398) 24,536 1,884 1,343 $40,303 For Fiscal years enaea (> millions) Assets Cash and cash equivalents Inventory 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 Operating lease assets 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 Total current liabilities Long-term debt and other borrowings Noncurrent operating lease liabilities Deferred income taxes Other noncurrent liabilities Total noncurrent liabilities Shareholders' investment Common stock Additional paid-in-capital Retained earnings Accumulated other comprehensive loss Total shareholders' investment Total liabilities and shareholders' investment $8,677 4,094 281 $9,761 4,201 1,052 15,014 10,223 2,004 972 13,052 11,117 1,924 693 1,780 14,979 1,866 15,600 43 45 6,04 6,017 (805) 11,297 $41,290 ,858 6,495 (747) 11,651 $40,303 Target Corporation Consolidated Statements of Operations 12 Months Ended ($ millions) Feb. 2, 2019 Feb. 3, 2018 Jan. 28, 2017 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) 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 Forecast Target's income statements for the fiscal years ended February 2020 and 2021 using the following assumptions and data. Assumptions ($ millions) Revenue growth 3.6% Cost of sales as % of Total revenue 70.7% Selling, general and administrative expenses as % of Total revenue 20.9% Forecasted depreciation expense for year ended February 2020 $2,565 Forecasted depreciation expense for year ended February 2021 $2,778 Amortization expense $0 Net interest expense No change Net other (income) expense No change Discontinued operations, net of tax $0 Tax rate (as % pretax income) 20% Instructions: Round answers to the nearest whole number. Do not use negative signs with any of your answers. Feb. 2020 Feb. 2021 $ 0 x $ 0 x 0 x 0x 0 x 0 x 0X 0X Target Corporation Consolidated Statements of Operations 12 Months Ended ($ millions) ( Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net income income Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings 0 x 0 X OX OX 0 x 0 x 0X 0X 0 x OX 0X 0 X 0 0 $ 0 x $ OX Forecast Target's balance sheets for the fiscal years ended February 2020 and 2021. Combine the forecasted property and equipment accounts into one account, titled Property and equipment, net. Use the following assumptions and data. 12.6% 1.9% 2.6% Assumptions ($ millions) Inventory as % Total revenue Other current assets as % Total revenue Operating lease assets as % Total revenue Other noncurrent assets as % Total revenue Accounts payable as % Total revenue Accrued and other current liabilities as % Total revenue Noncurrent operating lease liabilities Deferred income taxes as % Total revenue Other noncurrent liabilities as % Total revenue Common stock Additional paid-in capital Accumulated other comprehensive loss CAPEX/Current period total revenue Dividends for year ended February 2019 Dividend payout Stock buybacks per year Long term debt, current portion at February 2019 Long term debt, current portion at February 2020 Long-term debt, current portion at February 2021 1.7% 13.0% 5.6% No change 1.3% 2.4% No change No change No change 4.70% $1,335 45.5% $0 $1,052 $1,002 $1,094 O X 0 X OX 0 X OX 0 X OX 0 X $ 0 X $ Round answers to the nearest whole number. Use a negative sign with your Accumulated other comprehensive loss answers. Target Corporation Consolidated Statements of Financial Position For Fiscal Years Ended ($ millions) Feb. 2020 Feb. 2021 Assets Cash and cash equivalents 0 x $ Inventory 0x 0 x Other current assets OX Total current assets OX Property and equipment Operating lease assets Other noncurrent assets Total assets OX Liabilities and Shareholders' investment Accounts payable 0 x $ Ox Accrued and other current liabilities 0x OX Current portion of long-term debt and other borrowings Total current liabilities 0 x Long-term debt and other borrowings Noncurrent operating lease liabilities Deferred income taxes OX Other noncurrent liabilities Total noncurrent liabilities Shareholders' investment Common stock OX 0 x Additional paid-in-capital Ox 0 x Retained earnings OX Accumulated other comprehensive loss Total shareholders' investment Total liabilities and shareholders' investment 0 x $ OX OX 0 X OX 0 X 0 X OX OX 0 X 0 X 0 X OX OX OX 0 X 0 X $ ren. 2, 2019 Feb. 3, 2018 $1,556 9,497 1,466 12,519 $2,643 8,597 1,300 12,540 6,064 29,240 5,912 2,544 460 (18,687) 25,533 1,965 1,273 $41,290 6,095 28,131 5,623 2,645 440 (18,398) 24,536 1,884 1,343 $40,303 For Fiscal years enaea (> millions) Assets Cash and cash equivalents Inventory 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 Operating lease assets 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 Total current liabilities Long-term debt and other borrowings Noncurrent operating lease liabilities Deferred income taxes Other noncurrent liabilities Total noncurrent liabilities Shareholders' investment Common stock Additional paid-in-capital Retained earnings Accumulated other comprehensive loss Total shareholders' investment Total liabilities and shareholders' investment $8,677 4,094 281 $9,761 4,201 1,052 15,014 10,223 2,004 972 13,052 11,117 1,924 693 1,780 14,979 1,866 15,600 43 45 6,04 6,017 (805) 11,297 $41,290 ,858 6,495 (747) 11,651 $40,303 Target Corporation Consolidated Statements of Operations 12 Months Ended ($ millions) Feb. 2, 2019 Feb. 3, 2018 Jan. 28, 2017 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) 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 Forecast Target's income statements for the fiscal years ended February 2020 and 2021 using the following assumptions and data. Assumptions ($ millions) Revenue growth 3.6% Cost of sales as % of Total revenue 70.7% Selling, general and administrative expenses as % of Total revenue 20.9% Forecasted depreciation expense for year ended February 2020 $2,565 Forecasted depreciation expense for year ended February 2021 $2,778 Amortization expense $0 Net interest expense No change Net other (income) expense No change Discontinued operations, net of tax $0 Tax rate (as % pretax income) 20% Instructions: Round answers to the nearest whole number. Do not use negative signs with any of your answers. Feb. 2020 Feb. 2021 $ 0 x $ 0 x 0 x 0x 0 x 0 x 0X 0X Target Corporation Consolidated Statements of Operations 12 Months Ended ($ millions) ( Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net income income Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings 0 x 0 X OX OX 0 x 0 x 0X 0X 0 x OX 0X 0 X 0 0 $ 0 x $ OX Forecast Target's balance sheets for the fiscal years ended February 2020 and 2021. Combine the forecasted property and equipment accounts into one account, titled Property and equipment, net. Use the following assumptions and data. 12.6% 1.9% 2.6% Assumptions ($ millions) Inventory as % Total revenue Other current assets as % Total revenue Operating lease assets as % Total revenue Other noncurrent assets as % Total revenue Accounts payable as % Total revenue Accrued and other current liabilities as % Total revenue Noncurrent operating lease liabilities Deferred income taxes as % Total revenue Other noncurrent liabilities as % Total revenue Common stock Additional paid-in capital Accumulated other comprehensive loss CAPEX/Current period total revenue Dividends for year ended February 2019 Dividend payout Stock buybacks per year Long term debt, current portion at February 2019 Long term debt, current portion at February 2020 Long-term debt, current portion at February 2021 1.7% 13.0% 5.6% No change 1.3% 2.4% No change No change No change 4.70% $1,335 45.5% $0 $1,052 $1,002 $1,094 O X 0 X OX 0 X OX 0 X OX 0 X $ 0 X $ Round answers to the nearest whole number. Use a negative sign with your Accumulated other comprehensive loss answers. Target Corporation Consolidated Statements of Financial Position For Fiscal Years Ended ($ millions) Feb. 2020 Feb. 2021 Assets Cash and cash equivalents 0 x $ Inventory 0x 0 x Other current assets OX Total current assets OX Property and equipment Operating lease assets Other noncurrent assets Total assets OX Liabilities and Shareholders' investment Accounts payable 0 x $ Ox Accrued and other current liabilities 0x OX Current portion of long-term debt and other borrowings Total current liabilities 0 x Long-term debt and other borrowings Noncurrent operating lease liabilities Deferred income taxes OX Other noncurrent liabilities Total noncurrent liabilities Shareholders' investment Common stock OX 0 x Additional paid-in-capital Ox 0 x Retained earnings OX Accumulated other comprehensive loss Total shareholders' investment Total liabilities and shareholders' investment 0 x $ OX OX 0 X OX 0 X 0 X OX OX 0 X 0 X 0 X OX OX OX 0 X 0 X $