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Target Corporation prepares its financial statements according to U.S. GAAP. Targets financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the companys website (www.target.com).

Required:

By what name does Target label its balance sheet?

What amounts did Target report for the following items on February 3, 2018?

What was Targets largest current asset? What was its largest current liability?

Compute Targets current ratio and debt to equity ratio in 2018?

2017 financial summary FINANCIAL RESULTS: (in millions) Sales (b) Cost of sales $71,879 $%69,495 $73,785 $72,618 $71,279 51,506 49,145 Gross margin Sellng, general and administrative expenses (SG&A) Depreciation and amortization (exclusive of depreciation included on cost of sales (c) Gan on sale 20,754 20,350 13,356 21,544 14,665 21,036 4,676 4,465 1,969 1,901 1,792 2,025 Earnings from continuing operations before interest expene and income taxes EB) Net interest Earnings from continuing operations before income 4,312 4,969 5,530 4,535 4,923 3,653 1,204 4,121 3,646 3,965 Provision for income taxes Net earmings from continul Discontinued ations, net of tax PER SHARE BASIC EARNINGS/ (LOSS) PER SHARE $5.35 DILUTED EARNINGS (LOSS) PER SHARE $5.32 Cash dMdends declared FINANCIAL POSITION: (in millions) Total assets $38,999 $37,431 $40,262 $41,172 $44,325 $2,533$1,547 $11,587 $12,749 $12,760 $12,725 $12,494 $10,456 $11,639 $11,709 $10,953 $12,957 $13,997 $16,231 Capital expenditures (g) Long-term debt, including current portion (gl Net debt (gh) Shareholders inwestment $1,886 $9,752 $11,205 $12,491 SEGMENT FINANCIAL RATIOS: ( Comparable sales growth (D Gross margin(% of sales) (c) SG&A% of sales) EBIT margi 1% of sales) (0.5)% 29.3% (0.4)% 29.5% 20.2% 6.8% 1.3% 29.2% 28.9% 19.2% 19.6% 6.9% 20.0% 6.5% 6.0% OTHER: Common shares outstanding in millons) Operating cash flow provided by continuing operations (n millons) Sales per square foot (gk) Retail square feet (n thousands) (g Square footage growth (g Total number of stores (g) Total number of distnbution centers 632.9 $6,849 $5,329 $5,254$5,157$7,572 239,355 239,502 239,539 239,963 240,054 1,792 1,790 1,793 1,822 1,802 Target's label name for its balance sheet. Consolidated Statements of Financial Position 2. a. Current assets 14,120 b. Long-term assets c. Total assets 38,999 d. Current liabilities e. Long-term liabilities 12,749 f. Total liabilities 11,709 g. Total shareholders' equity 3.a. Largest current asset nventory b. Largest current liability Accounts payable 4. . Current ratio b. Debt to equity ratio 2017 financial summary FINANCIAL RESULTS: (in millions) Sales (b) Cost of sales $71,879 $%69,495 $73,785 $72,618 $71,279 51,506 49,145 Gross margin Sellng, general and administrative expenses (SG&A) Depreciation and amortization (exclusive of depreciation included on cost of sales (c) Gan on sale 20,754 20,350 13,356 21,544 14,665 21,036 4,676 4,465 1,969 1,901 1,792 2,025 Earnings from continuing operations before interest expene and income taxes EB) Net interest Earnings from continuing operations before income 4,312 4,969 5,530 4,535 4,923 3,653 1,204 4,121 3,646 3,965 Provision for income taxes Net earmings from continul Discontinued ations, net of tax PER SHARE BASIC EARNINGS/ (LOSS) PER SHARE $5.35 DILUTED EARNINGS (LOSS) PER SHARE $5.32 Cash dMdends declared FINANCIAL POSITION: (in millions) Total assets $38,999 $37,431 $40,262 $41,172 $44,325 $2,533$1,547 $11,587 $12,749 $12,760 $12,725 $12,494 $10,456 $11,639 $11,709 $10,953 $12,957 $13,997 $16,231 Capital expenditures (g) Long-term debt, including current portion (gl Net debt (gh) Shareholders inwestment $1,886 $9,752 $11,205 $12,491 SEGMENT FINANCIAL RATIOS: ( Comparable sales growth (D Gross margin(% of sales) (c) SG&A% of sales) EBIT margi 1% of sales) (0.5)% 29.3% (0.4)% 29.5% 20.2% 6.8% 1.3% 29.2% 28.9% 19.2% 19.6% 6.9% 20.0% 6.5% 6.0% OTHER: Common shares outstanding in millons) Operating cash flow provided by continuing operations (n millons) Sales per square foot (gk) Retail square feet (n thousands) (g Square footage growth (g Total number of stores (g) Total number of distnbution centers 632.9 $6,849 $5,329 $5,254$5,157$7,572 239,355 239,502 239,539 239,963 240,054 1,792 1,790 1,793 1,822 1,802 Target's label name for its balance sheet. Consolidated Statements of Financial Position 2. a. Current assets 14,120 b. Long-term assets c. Total assets 38,999 d. Current liabilities e. Long-term liabilities 12,749 f. Total liabilities 11,709 g. Total shareholders' equity 3.a. Largest current asset nventory b. Largest current liability Accounts payable 4. . Current ratio b. Debt to equity ratio