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 in Connect. This material is also available under the Investor Relations link at the company's website (www.target.com). Required: 1. Did Target's cash provided by operating activities in fiscal 2019 increase or decrease from the previous year? 2. Is Target's cash provided by operating activities more or less than net income in fiscal 2019? 3. What is Target's largest investing activity? 4. Is Target increasing or decreasing its long-term debt? 5. Some transactions that don't increase or decrease cash must be reported in conjunction with a statement of cash flows. What activity of this type did Target report during each of the three years presented? Consolidated Statements of Cash Flows \begin{tabular}{|c|c|c|c|c|} \hline (millions) & & 2019 & 2018 & 2017 \\ \hline \multicolumn{5}{|l|}{ Operating activities } \\ \hline Net earnings & $ & 3,281$ & 2,937$ & 2,914 \\ \hline Earnings from discontinued operations, net of tax & & 12 & 7 & 6 \\ \hline Net earnings from continuing operations & & 3,269 & 2,930 & 2,908 \\ \hline \multicolumn{5}{|l|}{ Adjustments to reconcile net earnings to cash provided by operations: } \\ \hline Depreciation and amortization & & 2,604 & 2,474 & 2,476 \\ \hline Share-based compensation expense & & 147 & 132 & 112 \\ \hline Deferred income taxes & & 178 & 322 & (188) \\ \hline Loss on debt extinguishment & & 10 & - & 123 \\ \hline Noncash losses / (gains) and other, net & & 29 & 95 & 208 \\ \hline \multicolumn{5}{|l|}{ Changes in operating accounts: } \\ \hline Inventory & & 505 & (900) & (348) \\ \hline Other assets & & 18 & (299) & (156) \\ \hline Accounts payable & & 140 & 1,127 & 1,307 \\ \hline Accrued and other liabilities & & 199 & 89 & 419 \\ \hline Cash provided by operating activities - continuing operations & & 7,099 & 5,970 & 6,861 \\ \hline Cash provided by operating activities - discontinued operations & & 18 & 3 & 74 \\ \hline Cash provided by operations & & 7,117 & 5,973 & 6,935 \\ \hline \multicolumn{5}{|l|}{ Investing activities } \\ \hline Expenditures for property and equipment & & (3,027) & (3,516) & (2,533) \\ \hline Proceeds from disposal of property and equipment & & 63 & 85 & 31 \\ \hline Cash paid for acquisitions, net of cash assumed & & - & - & (518) \\ \hline Other investments & & 20 & 15 & (55) \\ \hline Cash required for investing activities & & (2,944) & (3,416) & (3,075) \\ \hline \multicolumn{5}{|l|}{ Financing activities } \\ \hline Additions to long-term debt & & 1,739 & - & 739 \\ \hline Reductions of long-term debt & & (2,069) & (281) & (2,192) \\ \hline Dividends paid & & (1,330) & (1,335) & (1,338) \\ \hline Repurchase of stock & & (1,565) & (2,124) & (1,046) \\ \hline Stock option exercises & & 73 & 96 & 108 \\ \hline Cash required for financing activities & & (3,152) & (3,644) & (3,729) \\ \hline Net (decrease)/ increase in cash and cash equivalents & & 1,021 & (1,087) & 131 \\ \hline Cash and cash equivalents at beginning of period & & 1,556 & 2,643 & 2,512 \\ \hline Cash and cash equivalents at end of period & $ & 2,577$ & 1,556$ & 2,643 \\ \hline \multicolumn{5}{|l|}{ Supplemental information } \\ \hline Interest paid, net of capitalized interest & $ & 492$ & 476$ & 678 \\ \hline Income taxes paid & & 696 & 373 & 934 \\ \hline Leased assets obtained in exchange for new finance lease liabilities & & 379 & 130 & 139 \\ \hline Leased assets obtained in exchange for new operating lease liabilities & & 464 & 246 & 212 \\ \hline \end{tabular}