Obtain the Target Corporation’s annual report for its 2018 fiscal year (year ended February 2, 2019) at http://investors.target.com using the instructions in Appendix A, and use it to answer the following questions:

a. What was Target’s net income for 2018 (the year ended February 2, 2019)?

b. Did Target’s net income increase or decrease from 2017 to 2018, and by how much?

c. What was Target’s accounting equation for 2018?

d. Which of the following had the largest percentage change from 2017 to 2018: net sales; cost of sales; or selling, general, and administrative expenses? Show all computations.