Vertical Analysis - Income Statement Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. FY 2018 % FY 2017 % Sales $ 75,356 100.00% 71,879 100.00% Cost of sales 53,299 $ 71 51,125 $ 71 Gross margin $22,057 29 $20,754 29 Selling, general, and administrative expenses 15,723 $ 21 14,248 $ Depreciation and amortization - 2,224 3 2 ,194 Gain on sale Earnings from continuing operations before interest and taxes $ 4,110 5 $ 4,312 Net interest expense $ 461 $ 1 $ 666 Earnings from continuing operations before income taxes $ 3,649 5 $ 3,646 51 - Provision for income taxes - 746 | 15 718 | $ Net earnings from continuing operations $ 2,903 4 $ 2,928 Discontinued operations, net of tax 7 $ 9$ 6s Net earnings/(loss) $ 2,910 4 $ 2,934 Vertical Analysis - Balance Sheets Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. FY 2018 % FY 2017 % ASSETS Cash and cash equivalents 1,556 $ 4 $ 2,643 $ 7 Inventory $ 9,497 $ 24 $ 8,657 $ 22 Assets of discontinued operations $ - $ - $ - $- Other current assets 1,466 $ 4 $ 1,264 $ 3 Total current assets $ 12,519 $ 32 $ 12,564 $- Property and equipment Land $ 6,064 $ 15 $ 6,095 $ 16 Buildings and equipment $ 29,240 $ 74 $ 28,396 $ 73 Fixtures and equipment $ 5,912 $ 15 $ 5,623 $ 14 Computer hardware and software $ 2,544 | $ 6 $ 2,645 $ 7 Construction-in-progress $ 460 $ 1 $ 440 | $ 1 Accumulated depreciation $ (18,687) $ (48) $ (18,181) $ (47) Property and equipment, net $ 25,533 $ 65 $ 25,018 $ 64 Noncurrent assets of discontinued operations $ - $ - $ - $ - Other noncurrent assets $ 1,273 $ 3 $ 1,417 $ 4 Total assets $ 39,325 100.00% $ 38,999 100.00% LIABILITIES CECTION CECTIOM CTION SECTION SECTION Datis oberir $ $ $ $ 9,761 | $ 24 $ 4,201 | $ 3 $ 1,052 $ - $ - $ 15,014 $ 37 $ 10,223 $ 26 $ 972 $ 2 $ 8,677 $ 4,254 | $ 270s - $ 13,201 $ 11,317 $ 713 $ - $- 2,059 $ 14,089 $ 27,290 $ 22 1 1 . 33 28 2 - Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Liabilities of discontinued operations Total current liabilities Long-term debt and other borrowings Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities Total noncurrent liabilities Total liabilities SHAREHOLDERS' INVESTMENT Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Pension and other benefit liabilities Currency translation adjustment and cash flow hedges Total shareholders' investment Total liabilities and shareholders' investment - 1,780 $ 12,975 $ 27,989 $ 4 32 70 $ $ $ 5 35 69 $ $ $ 43 $ 6,042 $ 6,017 $ 15 15 $ $ $ 45 $ 5,858 $ 6,553 $ o 15 16 $ $ $ $ $ $ - $ - $ 12,102 $ 30 $ 40,091 100.00% $ - $- 12,456 $ 31 39,746 100.00% 3.43 Horizontal Analysis of the Income Statements Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. FY 2018 FY 2017 $ Change % Change FY 2016 $ Change % Change Sales $ 75,356 $ 71,879 $ 3,477 4.84% $ 69,495 $ 2,384 Cost of sales $ 53,299 $ 51,125 $ 2,174 4.25% $ 48,872 $ 2,253 4.61 Gross margin $ 22,057 $ 20,754 $ 1,303 6.28% $ 20,623 $ 131 0.64 Selling, general, and administrative expenses $ 15,723 $ 14,248 $ 1,475 10.35% $ 13,356 $ 892 6.68 Depreciation and amortization $ 2,224 $ 2,194 $ 30 1.37% $ 2,298 $ (104) -4.53 Gain on sale 100.00% 100.00 Earnings from continuing operations before interest and taxes $ 4,110 $ 4,312 $ (202) -4.68% $ 4,969 $ (657) -13.22 Net interest expense $ 461 $ 666 $ (205) -30.78% $ 1,004 $ (338) -33.67 e Earnings from continuing operations before income taxes 3,649 $ 3,646 $ 3 0.08% $ 3,965 $ (319) -8.05 Provision for income taxes 746 $ 718 $ 28 3.90% $ 1,296 $ (578) -44.60 Net earnings from continuing operations 2,903 $ 2,928 $ (25) -0.85% $ 2,669 $ 259 9.70 5 Discontinued operations, net of tax $ 755 2 31.33% $ 68 $ (63) -92.16 Net earnings/(loss) $ 2,910 $ 2,933 $ (23) -0.80% $ 2,737 $ 196 7.17 FY 2016 | $ Change $ 2,512 $ 8,309 $ 69 $ 10,890 $ 2,643 6,145 (8,309) 1,195 1,674 % Change 100.00% #DIV/0! 244.63% -100.00% 1731.88% 15.37% 12,519 $ Horizontal Analysis of the Balance Sheets Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. I FY 2018 L FY 2017 $ Change % Change ASSETS 100% Cash and cash equivalents 1,556 $ 2,643 $ (1,087) -41.13% Inventory 9,497 $ 8,657 $ 840 9.70% $ Assets of discontinued operations - $ - #DIV/0! $ Other current assets 1,466 $ 1,264 $ 202 15.98% $ Total current assets 12,564 $ (45) -0.36% $ Property and equipment Land $ 6,064 $ $ 6,095 $ (31) -0.51% $ Buildings and equipment $ 29,240 $ 28,396 $ 844 2.97% $ Fixtures and equipment $ 5,912 $ 5,623 $ 289 5.14% $ Computer hardware and software $ 2,544 2,645 $ (101) -3.82% $ Construction-in-progress $ 460 $ 440 $ 20 4.55% $ Accumulated depreciation $ (18,687) $ (18,181) $ (506) 2.78% $ Property and equipment, net $ 25,533 $ 25,018 $ 515 2.06% $ Noncurrent assets of discontinued operations $ - $ - $ - #DIV/0! $ Other noncurrent assets $ 1,273 $ 1,417 $ (144) -10.16% $ Total assets $ 39,325 $ 38,999 $ 326 0.84% $ 6,106 $ 27,611 $ 5,503 $ 2,651 $ 200 $ (17,413) $ 24,658 $ 12 $ 771 $ 36,331 $ (11) 785 120 (6) 240 (768) 360 -0.18% 2.84% 2.18% -0.23% 120.00% 4.41% 1.46% -100.00% 83.79% 7.34% 646 2,668 $ $ 9,761 $ 4,201$ 1,052 $ 8,677 4,254 270 $ $ $ 1,084 (53) 782 $ 1,813 (1,084) 259 Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Liabilities of discontinued operations Total current liabilities Long-term debt and other borrowings Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities Total noncurrent liabilities Total liabilities SHAREHOLDERS' INVESTMENT Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Pension and other benefit liabilities Currency translation adjustment and cash flow hedges Total shareholders' investment Total liabilities and shareholders' investment 15,014 10,233 972 - 1,780 12,985 27,999 $ $ $ $ $ $ $ 12.49%$ -1.25% $ 289.63% $ #DIV/0! $ 13.73% $ -9.58% $ 36.33% $ #DIV/0! $ -13.55% $ -7.84% $ 2.60% $ 13,201 11,317 713 - 2,059 14,089 27,290 - 7,252 $ 3,737 $ 1,718 $ 1 $ 12,708 $ 11,031 $ 861 18 $ 1,860 $ 13,770 $ 26,478 $ 1,425 517 (1,448) (1) 493 286 (148) (18) 199 319 812 19.65% 13.83% -84.28% -100.00% 3.88% 2.59% -17.19% -100.00% 10.70% 2.32% 3.07% $ $ $ $ $ (279) (1,104) 709 (1) 43$ 6,042 $ 6,017 $ (805) - $ 45 5,858 6,553 (2) 184 (536) (805) - -4.44% 3.14% -8.18% $ $ $ 46 5,661 5,884 $ $ 197 669 -2.17% 3.48% 11.37% 11,297 $ 39,296 $ 12,456 39,746 (1,159) (450) (450) #DIV/0! $ #DIV/0! $ -9.30% $ - 1.13% $ 1.137 (601) $ (37 $ 10,953 37,431 $ $ $ 601 37 1,503 2,315 -100.00% -100.00% 13.72% 6.18% 20XX FY 20XX Ratio Analysis Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. LIQUIDITY Working capital Formula Calculation Current ratio Formula Calculation Quick ratio Formula Calculation Inventory turnover Formula Calculation Average days to sell inventory Formula Calculation SOLVENCY SOLVENCY Debt to assets Formula Calculation Debt to equity Formula Calculation Number of times interest is earned Formula Calculation Plant assets to long-term liabilities Formula Calculation PROFITABILITY Net margin (return on sales) Formula Calculation Asset turnover Formula Calculation Return on investment Calculation Return on investment Formula Calculation Return on equity Formula Calculation Earnings per share Formula Net earnings available for common stock/ average number of shares outstanding Calculation Price-earnings Formula Market price per share / earnings per share Calculation Book value per share (common) Formula Stockholders' equity - preferred stock/ outstanding common shares Calculation Budgeting Target Corporation INSTRUCTIONS: Select the previous three years annual reports to complete the cells below. Change XX to the yea of the report you FY 20xx FY 20XX FY 20XX FY 20XX FY 20XX % change 20XX-20XX Sales Relevant expenses: Cost of sales Selling, general, and administrative expense Depreciation and amortization Total relevant expenses I $ - $ - Budgeted and actual income statement accounts FY 20XX Actual 20xx Average % change 20XX-20xx Budget 20XX) Actual 20XX | Difference 1% difference from budgeted amount #DIV/0! Sales Relevant expenses: Cost of sales Selling, general, and adminstrative expense Depreciation and amortization Total relevant expenses #DIV/0! #DIV/0! #DIV/0! #DIV/0! Budgeting Target Corporation years annual reports to complete the cells below. Change XX to the yea of the report you are analyzing. FY 20xx FY 20XX FY 20XX sebenarnya % change 20XX-20XX % change 20XX-20XX% change 20XX-20xx Average % change 20XX-20XX #DIV/0! #DIV/0! #DIV/0! dan memasan gan ini #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ - $ Budgeted and actual income statement accounts FY 20XX Budget 20xx | Actual 20xx Difference % difference from budgeted amount #DIV/0! $ #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ - $ Vertical Analysis - Income Statement Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. FY 2018 % FY 2017 % Sales $ 75,356 100.00% 71,879 100.00% Cost of sales 53,299 $ 71 51,125 $ 71 Gross margin $22,057 29 $20,754 29 Selling, general, and administrative expenses 15,723 $ 21 14,248 $ Depreciation and amortization - 2,224 3 2 ,194 Gain on sale Earnings from continuing operations before interest and taxes $ 4,110 5 $ 4,312 Net interest expense $ 461 $ 1 $ 666 Earnings from continuing operations before income taxes $ 3,649 5 $ 3,646 51 - Provision for income taxes - 746 | 15 718 | $ Net earnings from continuing operations $ 2,903 4 $ 2,928 Discontinued operations, net of tax 7 $ 9$ 6s Net earnings/(loss) $ 2,910 4 $ 2,934 Vertical Analysis - Balance Sheets Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. FY 2018 % FY 2017 % ASSETS Cash and cash equivalents 1,556 $ 4 $ 2,643 $ 7 Inventory $ 9,497 $ 24 $ 8,657 $ 22 Assets of discontinued operations $ - $ - $ - $- Other current assets 1,466 $ 4 $ 1,264 $ 3 Total current assets $ 12,519 $ 32 $ 12,564 $- Property and equipment Land $ 6,064 $ 15 $ 6,095 $ 16 Buildings and equipment $ 29,240 $ 74 $ 28,396 $ 73 Fixtures and equipment $ 5,912 $ 15 $ 5,623 $ 14 Computer hardware and software $ 2,544 | $ 6 $ 2,645 $ 7 Construction-in-progress $ 460 $ 1 $ 440 | $ 1 Accumulated depreciation $ (18,687) $ (48) $ (18,181) $ (47) Property and equipment, net $ 25,533 $ 65 $ 25,018 $ 64 Noncurrent assets of discontinued operations $ - $ - $ - $ - Other noncurrent assets $ 1,273 $ 3 $ 1,417 $ 4 Total assets $ 39,325 100.00% $ 38,999 100.00% LIABILITIES CECTION CECTIOM CTION SECTION SECTION Datis oberir $ $ $ $ 9,761 | $ 24 $ 4,201 | $ 3 $ 1,052 $ - $ - $ 15,014 $ 37 $ 10,223 $ 26 $ 972 $ 2 $ 8,677 $ 4,254 | $ 270s - $ 13,201 $ 11,317 $ 713 $ - $- 2,059 $ 14,089 $ 27,290 $ 22 1 1 . 33 28 2 - Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Liabilities of discontinued operations Total current liabilities Long-term debt and other borrowings Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities Total noncurrent liabilities Total liabilities SHAREHOLDERS' INVESTMENT Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Pension and other benefit liabilities Currency translation adjustment and cash flow hedges Total shareholders' investment Total liabilities and shareholders' investment - 1,780 $ 12,975 $ 27,989 $ 4 32 70 $ $ $ 5 35 69 $ $ $ 43 $ 6,042 $ 6,017 $ 15 15 $ $ $ 45 $ 5,858 $ 6,553 $ o 15 16 $ $ $ $ $ $ - $ - $ 12,102 $ 30 $ 40,091 100.00% $ - $- 12,456 $ 31 39,746 100.00% 3.43 Horizontal Analysis of the Income Statements Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. FY 2018 FY 2017 $ Change % Change FY 2016 $ Change % Change Sales $ 75,356 $ 71,879 $ 3,477 4.84% $ 69,495 $ 2,384 Cost of sales $ 53,299 $ 51,125 $ 2,174 4.25% $ 48,872 $ 2,253 4.61 Gross margin $ 22,057 $ 20,754 $ 1,303 6.28% $ 20,623 $ 131 0.64 Selling, general, and administrative expenses $ 15,723 $ 14,248 $ 1,475 10.35% $ 13,356 $ 892 6.68 Depreciation and amortization $ 2,224 $ 2,194 $ 30 1.37% $ 2,298 $ (104) -4.53 Gain on sale 100.00% 100.00 Earnings from continuing operations before interest and taxes $ 4,110 $ 4,312 $ (202) -4.68% $ 4,969 $ (657) -13.22 Net interest expense $ 461 $ 666 $ (205) -30.78% $ 1,004 $ (338) -33.67 e Earnings from continuing operations before income taxes 3,649 $ 3,646 $ 3 0.08% $ 3,965 $ (319) -8.05 Provision for income taxes 746 $ 718 $ 28 3.90% $ 1,296 $ (578) -44.60 Net earnings from continuing operations 2,903 $ 2,928 $ (25) -0.85% $ 2,669 $ 259 9.70 5 Discontinued operations, net of tax $ 755 2 31.33% $ 68 $ (63) -92.16 Net earnings/(loss) $ 2,910 $ 2,933 $ (23) -0.80% $ 2,737 $ 196 7.17 FY 2016 | $ Change $ 2,512 $ 8,309 $ 69 $ 10,890 $ 2,643 6,145 (8,309) 1,195 1,674 % Change 100.00% #DIV/0! 244.63% -100.00% 1731.88% 15.37% 12,519 $ Horizontal Analysis of the Balance Sheets Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. I FY 2018 L FY 2017 $ Change % Change ASSETS 100% Cash and cash equivalents 1,556 $ 2,643 $ (1,087) -41.13% Inventory 9,497 $ 8,657 $ 840 9.70% $ Assets of discontinued operations - $ - #DIV/0! $ Other current assets 1,466 $ 1,264 $ 202 15.98% $ Total current assets 12,564 $ (45) -0.36% $ Property and equipment Land $ 6,064 $ $ 6,095 $ (31) -0.51% $ Buildings and equipment $ 29,240 $ 28,396 $ 844 2.97% $ Fixtures and equipment $ 5,912 $ 5,623 $ 289 5.14% $ Computer hardware and software $ 2,544 2,645 $ (101) -3.82% $ Construction-in-progress $ 460 $ 440 $ 20 4.55% $ Accumulated depreciation $ (18,687) $ (18,181) $ (506) 2.78% $ Property and equipment, net $ 25,533 $ 25,018 $ 515 2.06% $ Noncurrent assets of discontinued operations $ - $ - $ - #DIV/0! $ Other noncurrent assets $ 1,273 $ 1,417 $ (144) -10.16% $ Total assets $ 39,325 $ 38,999 $ 326 0.84% $ 6,106 $ 27,611 $ 5,503 $ 2,651 $ 200 $ (17,413) $ 24,658 $ 12 $ 771 $ 36,331 $ (11) 785 120 (6) 240 (768) 360 -0.18% 2.84% 2.18% -0.23% 120.00% 4.41% 1.46% -100.00% 83.79% 7.34% 646 2,668 $ $ 9,761 $ 4,201$ 1,052 $ 8,677 4,254 270 $ $ $ 1,084 (53) 782 $ 1,813 (1,084) 259 Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Liabilities of discontinued operations Total current liabilities Long-term debt and other borrowings Deferred income taxes Noncurrent liabilities of discontinued operations Other noncurrent liabilities Total noncurrent liabilities Total liabilities SHAREHOLDERS' INVESTMENT Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Pension and other benefit liabilities Currency translation adjustment and cash flow hedges Total shareholders' investment Total liabilities and shareholders' investment 15,014 10,233 972 - 1,780 12,985 27,999 $ $ $ $ $ $ $ 12.49%$ -1.25% $ 289.63% $ #DIV/0! $ 13.73% $ -9.58% $ 36.33% $ #DIV/0! $ -13.55% $ -7.84% $ 2.60% $ 13,201 11,317 713 - 2,059 14,089 27,290 - 7,252 $ 3,737 $ 1,718 $ 1 $ 12,708 $ 11,031 $ 861 18 $ 1,860 $ 13,770 $ 26,478 $ 1,425 517 (1,448) (1) 493 286 (148) (18) 199 319 812 19.65% 13.83% -84.28% -100.00% 3.88% 2.59% -17.19% -100.00% 10.70% 2.32% 3.07% $ $ $ $ $ (279) (1,104) 709 (1) 43$ 6,042 $ 6,017 $ (805) - $ 45 5,858 6,553 (2) 184 (536) (805) - -4.44% 3.14% -8.18% $ $ $ 46 5,661 5,884 $ $ 197 669 -2.17% 3.48% 11.37% 11,297 $ 39,296 $ 12,456 39,746 (1,159) (450) (450) #DIV/0! $ #DIV/0! $ -9.30% $ - 1.13% $ 1.137 (601) $ (37 $ 10,953 37,431 $ $ $ 601 37 1,503 2,315 -100.00% -100.00% 13.72% 6.18% 20XX FY 20XX Ratio Analysis Target Corporation INSTRUCTIONS: Change XX to the year of the report you are analyzing. LIQUIDITY Working capital Formula Calculation Current ratio Formula Calculation Quick ratio Formula Calculation Inventory turnover Formula Calculation Average days to sell inventory Formula Calculation SOLVENCY SOLVENCY Debt to assets Formula Calculation Debt to equity Formula Calculation Number of times interest is earned Formula Calculation Plant assets to long-term liabilities Formula Calculation PROFITABILITY Net margin (return on sales) Formula Calculation Asset turnover Formula Calculation Return on investment Calculation Return on investment Formula Calculation Return on equity Formula Calculation Earnings per share Formula Net earnings available for common stock/ average number of shares outstanding Calculation Price-earnings Formula Market price per share / earnings per share Calculation Book value per share (common) Formula Stockholders' equity - preferred stock/ outstanding common shares Calculation Budgeting Target Corporation INSTRUCTIONS: Select the previous three years annual reports to complete the cells below. Change XX to the yea of the report you FY 20xx FY 20XX FY 20XX FY 20XX FY 20XX % change 20XX-20XX Sales Relevant expenses: Cost of sales Selling, general, and administrative expense Depreciation and amortization Total relevant expenses I $ - $ - Budgeted and actual income statement accounts FY 20XX Actual 20xx Average % change 20XX-20xx Budget 20XX) Actual 20XX | Difference 1% difference from budgeted amount #DIV/0! Sales Relevant expenses: Cost of sales Selling, general, and adminstrative expense Depreciation and amortization Total relevant expenses #DIV/0! #DIV/0! #DIV/0! #DIV/0! Budgeting Target Corporation years annual reports to complete the cells below. Change XX to the yea of the report you are analyzing. FY 20xx FY 20XX FY 20XX sebenarnya % change 20XX-20XX % change 20XX-20XX% change 20XX-20xx Average % change 20XX-20XX #DIV/0! #DIV/0! #DIV/0! dan memasan gan ini #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ - $ Budgeted and actual income statement accounts FY 20XX Budget 20xx | Actual 20xx Difference % difference from budgeted amount #DIV/0! $ #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ - $
