Question
Use Targets 2017 annual report filed with the SEC in 2018 for the following calculations. For the most recent year presented, what was Targets quick
Use Targets 2017 annual report filed with the SEC in 2018 for the following calculations. For the most recent year presented, what was Targets quick ratio?
Do NOT round intermediate calculations. Only round final answers. Round your final answer to 2 decimal places (for example: 0.90).
Target Corporation Consolidated Statements of Financial Position |
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Assets | February 2, 2019 | February 3, 2018 as adj. | ||||
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 |
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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 |
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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 |
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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 |
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