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Required Information [The following Information applies to the questions displayed below.] Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements
Required Information [The following Information applies to the questions displayed below.] Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 1, 2020, are available here. This material is also available under the Investor Relations link at the company's website ( www.target.com). Required: 1. By what name does Target label its balance sheet? 2. What amounts did Target report for the following Items on February 1, 2020? Note: Enter your answers in millions, not in dollars (l.e., 10,000,000 should be entered as 10). 3. What was Target's largest current asset? What was its largest current liability? 4. Compute Target's current ratio and debt to equity ratio in 2020? Note: Round your answers to 2 decimal places. Answer is not complete. 1. Target's name for its balance sheet. Statement of Financial Position 2a. Current assets 2b. Long-term assets 2c. Total assets 2d. Current liabilities S 12,902 million S 29,877 million S 42,779 million S 14,487 million 2e. Long-term liabilities S 16,459 million 2f. Total liabilities S 30,946 million 2g. Total shareholders' equity S 11,833 million 3a. Largest current asset Inventory Accounts payable 3b. Largest current liability 4a. Current ratio 4b. Debt to equity ratio
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