Required:

Skim the annual report. Look at the income statement, balance sheet, and cash flow statement closely and attempt to infer what kinds of information they report. Then answer the following questions based on the report.

What best describes the types of products Target sells?

On what date does Target$$s most recent reporting year end?

For how many years does it present complete balance sheets, income statements, and cash flow statements?

Are its financial statements audited by independent CPAs? How do you know?

Did its total assets increase or decrease over the last year?

What was the value of inventory the company had as of January $30,2021,$ in millions $($accountants would call this the ending balance$)?$

Write out the basic accounting $($balance sheet$)$ equation and provide the values in millions of dollars reported by the company as of January $30,2021.$