financial statement case assignment

Please read the General Info and Instructions for the Financial Statement Case assignments carefully before starting. There are 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

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(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-a792e5122d1a

Occasionally 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 questions, please do the following: Do not replicate each question, Number each question, When a question asks you to compute a ratio or another analytic, please show the work the last question 17-1 will have to do using spreadsheet software (Excel, Google Sheets, etc) ,If you use an outside source (other than the Target or Kohl’s financials) please cite the sources

Financial Statement Case 10-1

Refer to the Target Corporation financial statements, including Notes 14 and 15. Answer the following questions.

Requirements

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?

What was the amount of depreciation and amortization expense for the year ending January 30, 2016?

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?

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?

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

Requirements

Give the breakdown of Target’s current liabilities at January 30, 2016.

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

Requirements

Review the stockholders’ equity section of the balance sheet. Did Target have any preferred stock at January 30, 2016?

Now examine the notes at the bottom of the balance sheet. Is Target authorized to issue preferred stock? If so, how much?

How much of Target Corporation’s common stock was outstanding at January 30, 2016? How can you tell?

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?

Show how Target Corporation computed basic earnings per share of $5.35 for fiscal year 2015. (Ignore diluted earnings per share.)

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