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 income statement?

$2.$ 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

$3.$ Does Target report any items as part of its other comprehensive income?

$4.$ Does Target prepare the statement of cash flows using the direct method or the indirect method?

$5.$ Which is higher, net earnings or operating cash flows, and what is the biggest reason why?

$6.$ What is the largest investing cash flow and the largest financing cash flow reported by the company for the year ended February $1,2020?$

$1.$ Target's label Statement of Operations

$2$a$.$ Sales

$2$b$.$ Cost of goods sold $($labeled cost of sales$)$

$2$c$.$ Earnings from continuing operations before income taxes

$2$d$.$ Net earnings from continuing operations

$2$e$.$ Net earnings

$3.$ Does Target report any items as part of its other comprehensive income?

$4.$ Does Target prepare the statement of cash flows using the direct method or the indirect method?

$5.$ Which is higher, net earnings or operating cash flows, and what is the biggest reason why?

$6$a$.$ The largest investing cash flow is the outflow from expenditures for:

$6$b$.$ The largest financing cash flow is the outflow from expenditures for: