Two-Year-Ahead Forecasting of Financial Statement Following are the financial statements of Target Corporation from its fiscal year ended February 2, 2019.

Target Corporation
Consolidated Statements of Financial Position
For Fiscal Years Ended ($ millions)	Feb. 2, 2019	Feb. 3, 2018
Assets
Cash and cash equivalents	$1,556	$2,643
Inventory	9,497	8,597
Other current assets	1,466	1,300
Total current assets	12,519	12,540
Property and equipment
Land	6,064	6,095
Buildings and improvements	29,240	28,131
Fixtures and equipment	5,912	5,623
Computer hardware and software	2,544	2,645
Construction-in-progress	460	440
Accumulated depreciation	(18,687)	(18,398)
Property and equipment, net	25,533	24,536
Operating lease assets	1,965	1,884
Other noncurrent assets	1,273	1,343
Total assets	$41,290	$40,303
Liabilities and Shareholders' investment
Accounts payable	$9,761	$8,677
Accrued and other current liabilities	4,201	4,094
Current portion of long-term debt and other borrowings	1,052	281
Total current liabilities	15,014	13,052
Long-term debt and other borrowings	10,223	11,117
Noncurrent operating lease liabilities	2,004	1,924
Deferred income taxes	972	693
Other noncurrent liabilities	1,780	1,866
Total noncurrent liabilities	14,979	15,600
Shareholders' investment
Common stock	43	45
Additional paid-in-capital	6,042	5,858
Retained earnings	6,017	6,495
Accumulated other comprehensive loss	(805)	(747)
Total shareholders' investment	11,297	11,651
Total liabilities and shareholders' investment	$41,290	$40,303

Target Corporation
Consolidated Statements of Operations
12 Months Ended ($ millions)	Feb. 2, 2019	Feb. 3, 2018	Jan. 28, 2017
Total revenue	$75,356	$72,714	$70,271
Cost of sales	53,299	51,125	49,145
Selling, general and administrative expenses	15,723	15,140	14,217
Depreciation and amortization (exclusive of depreciation included in cost of sales)	2,224	2,225	2,045
Operating income	4,110	4,224	4,864
Net interest expense	461	653	991
Net other (income) expense	(27)	(59)	(88)
Earnings from continuing operations before income taxes	3,676	3,630	3,961
Provision for income taxes	746	722	1,295
Net earnings from continuing operations	2,930	2,908	2,666
Discontinued operations, net of tax	7	6	68
Net earnings	$ 2,937	$ 2,914	$ 2,734

Forecast Targets income statements for the fiscal years ended February 2020 and 2021 using the following assumptions and data.

Assumptions ($ millions)
Revenue growth	3.6%
Cost of sales as % of Total revenue	70.7%
Selling, general and administrative expenses as % of Total revenue	20.9%
Forecasted depreciation expense for year ended February 2020	$2,565
Forecasted depreciation expense for year ended February 2021	$2,778
Amortization expense	$0
Net interest expense	No change
Net other (income) expense	No change
Discontinued operations, net of tax	$0
Tax rate (as % pretax income)	20%

Instructions:

Round answers to the nearest whole number.

Do not use negative signs with any of your answers.

Target Corporation
Consolidated Statements of Operations
12 Months Ended ($ millions)	Feb. 2020	Feb. 2021
Total revenue	Answer	Answer
Cost of sales	Answer	Answer
Selling, general and administrative expenses	Answer	Answer
Depreciation and amortization (exclusive of depreciation included in cost of sales)	Answer	Answer
Operating income	Answer	Answer
Net interest expense	Answer	Answer
Net other (income) / expense	Answer	Answer
Earnings from continuing operations before income taxes	Answer	Answer
Provision for income taxes	Answer	Answer
Net earnings from continuing operations	Answer	Answer
Discontinued operations, net of tax	Answer	Answer
Net earnings	Answer	Answer

Forecast Targets balance sheets for the fiscal years ended February 2020 and 2021. Combine the forecasted property and equipment accounts into one account, titled Property and equipment, net. Use the following assumptions and data.

Assumptions ($ millions)
Inventory as % Total revenue	12.6%
Other current assets as % Total revenue	1.9%
Operating lease assets as % Total revenue	2.6%
Other noncurrent assets as % Total revenue	1.7%
Accounts payable as % Total revenue	13.0%
Accrued and other current liabilities as % Total revenue	5.6%
Noncurrent operating lease liabilities	No change
Deferred income taxes as % Total revenue	1.3%
Other noncurrent liabilities as % Total revenue	2.4%
Common stock	No change
Additional paid-in capital	No change
Accumulated other comprehensive loss	No change
CAPEX/Current period total revenue	4.70%
Dividends for year ended February 2019	$1,335
Dividend payout	45.5%
Stock buybacks per year	$0
Long term debt, current portion at February 2019	$1,052
Long term debt, current portion at February 2020	$1,002
Long-term debt, current portion at February 2021	$1,094

Instructions:

Round answers to the nearest whole number.

Use a negative sign with your Accumulated other comprehensive loss answers.

Target Corporation
Consolidated Statements of Financial Position
For Fiscal Years Ended ($ millions)	Feb. 2020	Feb. 2021
Assets
Cash and cash equivalents	Answer	Answer
Inventory	Answer	Answer
Other current assets	Answer	Answer
Total current assets	Answer	Answer
Property and equipment	Answer	Answer
Operating lease assets	Answer	Answer
Other noncurrent assets	Answer	Answer
Total assets	Answer	Answer
Liabilities and Shareholders' investment
Accounts payable	Answer	Answer
Accrued and other current liabilities	Answer	Answer
Current portion of long-term debt and other borrowings	Answer	Answer
Total current liabilities	Answer	Answer
Long-term debt and other borrowings	Answer	Answer
Noncurrent operating lease liabilities	Answer	Answer
Deferred income taxes	Answer	Answer
Other noncurrent liabilities	Answer	Answer
Total noncurrent liabilities	Answer	Answer
Shareholders' investment
Common stock	Answer	Answer
Additional paid-in-capital	Answer	Answer
Retained earnings	Answer	Answer
Accumulated other comprehensive loss	Answer	Answer
Total shareholders' investment	Answer	Answer
Total liabilities and shareholders' investment	Answer	Answer

Please answer the consolidated statements of operations and the consolidated statements of financial position! I will rate answer, thank you!!