Please read the General Info and Instructions for the Financial Statement Case assignments carefully before starting. There are 22 questions all together and they are each short cases question answers.The data for each of these assignments comes from the Annual Report of Target Corporation. The Annual Report you will be using is the 2015 Annual Report
(Links to an external site.)
. Please don’t use another year or your answers will be wrong. This report covers the dates of January 31, 2015 to January 30, 2016. If you cannot open the link you can just copy and paste the link down below. https://investors.target.com/static-files/5c46abf3-aba2-41bb-b519-a792e5122d1aOccasionally you will have to access the 2015 Annual Report of Kohls
(Links to an external site.) for comparison purposes. Again if you can’t access the 2015 Annual report of kohls here is a link. https://www.sec.gov/Archives/edgar/data/885639/000088563916000033/kohls_10kx2015.htm For each assignment, please do the following:
Financial Statement Case 10-1
Refer to the Target Corporation financial statements, including Notes 14 and 15. Answer the following questions. Requirements
1. Which depreciation method does Target Corporation use for reporting in the financial statements? What type of depreciation method does the company probably use for income tax purposes?
2. What was the amount of depreciation and amortization expense for the year ending January 30, 2016?
3. The statement of cash flows reports the cash purchases of property, plant, and equipment. How much were Target’s additions to property, plant, and equipment during the year ending January 30, 2016? Did Target record any proceeds from the sale of property, plant, and equipment?
4. What was the amount of accumulated depreciation at January 30, 2016? What was the net book value of property, plant, and equipment for Target as of January 31, 2016?
5. Compute Target’s asset turnover ratio for year ending January 30, 2016. Round to two decimal places. How does Target’s ratio compare with that of Kohl’s Corporation?
Financial Statement Case 11-1
1. Give the breakdown of Target’s current liabilities at January 30, 2016.
2. Calculate Target’s times-interest-earned ratio for the year ending January 30, 2016. How does Target’s ratio compare to Kohl’s Corporation’s ratio?
Financial Statement Case 13-1
1. Review the stockholders’ equity section of the balance sheet. Did Target have any preferred stock at January 30, 2016?
2. Now examine the notes at the bottom of the balance sheet. Is Target authorized to issue preferred stock? If so, how much?
3. How much of Target Corporation’s common stock was outstanding at January 30, 2016? How can you tell?
4. Examine Target Corporation’s consolidated statements of cash flows. Did Target pay any cash dividends during the year ending January 30, 2016? If so, how much?
5. Show how Target Corporation computed basic earnings per share of $5.35 for fiscal year 2015. (Ignore diluted earnings per share.)
Financial Statement Case 14-1
1. How much was Target Corporation’s long-term debt at January 30, 2016?
2. Compute Target Corporation’s debt to equity ratio at January 30, 2016. How does it compare to Kohl’s Corporation’s ratio?
Financial Statement Case 15-1
1. Calculate the rate of return on total assets for Target Corporation for the year ended January 30, 2016.
2. Compare Target Corporation’s rate of return on total assets to Kohl’s Corporation’s ratio. Discuss the differences.
Financial Statement Case 16-1
1. Which method does Target use to report net cash flows from operating activities? How can you tell?
2. Target earned net income during 2015. Did operations provide cash or use cash during 2015? Give the amount. How did net cash provided by (used for) operations during 2015 compare with net income in 2015?
3. For the year ended January 30, 2016 (fiscal year 2015), did Target pay cash dividends? If so, how much?
4. For the year ended January 30, 2016, did Target use cash to purchase property, plant, and equipment? If so, how much?
Financial Statement Case 17-1
Requirements – Please note for this assignment you must use spreadsheet software (Excel, Google Sheets, etc)
1. Compute trend analyses for Sales and Net earnings / (loss). Use 2013 as the base year. What is the most notable aspect of these data?
2. Perform a vertical analysis for Target Corporation’s balance sheet as of January 31, 2016 (fiscal year 2015), and January 31, 2015 (fiscal year 2014). Include only these main categories:
Total current assets
Property and equipment, net
Noncurrent assets of discontinued operations
Other noncurrent assets
Liabilities and shareholders’ investment:
Total current liabilities
Total noncurrent liabilities
Total shareholders’ investment
Total liabilities and shareholders’ investment
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