The objective of this exercise is to calculate historical free cash flows to the firm aka FCFF and other key line items of Target over the past five years using the income statement, balance sheet, and statement of cash flows available on either Targets investor reports and/or Capital IQ.

(Hint: the response below will be utilized in preparing for valuing the company via the DCF approach)

From FY 2018 to 2022, calculate/reflect the following line items:

Current operating assets: sum of the following items

• Operating cash (Revenue may be assumed at 2%)
• Other receivables
• Inventory
• Prepaid expenses
• Other current assets