Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material also is available under the Investor Relations link at the company's website (www.target.com).
Required:
1. What amounts did Target report for the following items for the year ended February 3, 2018?
2. What was Target's basic earnings per share for the year ended February 3, 2018? (Round your answers to 2 decimal places.)
3. What is Target's fiscal year-end? Why do you think Target chose that year-end?
4. Regarding Target's audit report: a. Who is Target's auditor?
Homework Answers
1.
Total Revenues = $71879 millions
Income from continuing Operations = $2928 millions
Net Income = $2934 millions
Total Assets = $38999 millions
Total Equity = $11709 millions
2.
Targets basic earning per share = $5.36
3.
Fiscal year 2017 ended February 3, 2018
Its fiscal year ends on the Saturday nearest January 31
4.
Targets Auditor = Ernst & Young LLP
Opinion = Unqualified Opinion
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I know the bottom three answers are: increase,
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