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:

By what name does Target label its income statement?

What amounts did Target report for items listed below for the year ended February $1,2020?$

Note: Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

Sales

Cost of goods sold $($labeled cost of sales$)$

Earnings from continuing operations before income taxes

Net earnings from continuing operations

Net earnings

Does Target report any items as part of its other comprehensive income?

Does Target prepare the statement of cash flows using the direct method or the indirect method?

Which is higher, net earnings or operating cash flows, and what is the biggest reason why?

What is the largest investing cash flow and the largest financing cash flow reported by the company for the year ended February $1,2020?1$

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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$).$

$100$

points Required:

By what name does Target label its income statement?

What amounts did Target report for items listed below for the year ended February $1,2020?$

Note: Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

a$.$ Sales

b$.$ Cost of goods sold $($labeled cost of sales$)$

c$.$ Earnings from continuing operations before income taxes

d$.$ Net earnings from continuing operations

e$.$ Net earnings

Does Target report any items as part of its other comprehensive income?

Does Target prepare the statement of cash flows using the direct method or the indirect method?

Which is higher, net earnings or operating cash flows, and what is the biggest reason why?

What is the largest investing cash flow and the largest financing cash flow reported by the company for the year ended February $1,2020?$

Answer is complete but not entirely correct.

$\backslash$table$[[1.$ Target's label,Statement of Operations,$(],[2$a$.$ Sales,s $78,112,000,000\backslash$times $,],[2$b$.$ Cost of goods sold $($labeled cost of sales$),$$$55,235,000,000\backslash$times $,],[2$c$.$ Earnings from continuing operations before income taxes,s $4,661,000,000\backslash$times $,],[2$d$.$ Net earnings from continuing operations,$ $3,281,000,000\backslash$times $,],[2$e$.$ Net earnings,$$,3,281,000,000\backslash$times $,],[3.$ Does Target report any items as part of its other comprehensive income?,Yes,$],[\backslash$table$[[4.$ Does Target prepare the statement of cash flows using the direct method or the indirect$],[$method$?]],$Indirect method,$],[\backslash$table$[[5.$ Which is higher, net earnings or operating cash flows, and what is the biggest reason$],[$why$?]],\backslash$table$[[$Operating cash flows are higher, the largest reconciling$],[$items are depreciation and amortization$]],],[6$a$.$ The largest investing cash flow is the outflow from expenditures for:,property and equipment,$],[6$b$.$ The largest financing cash flow is the outflow from expenditures for:,reductions of long$-$term debt,Q$]]$