Question

The following financial data were adapted from the annual report of Target Corporation for the year ending January 29, 2011.
In millions
Accounts payable ............ $ 6,625
Capital stock ............... 2,789
Cash ................... 1,712
Cost of goods sold ............ 45,725
Debt and other borrowings ........ 15,726
Income tax expense ............ 1,575
Interest expense .............. 757
Inventories ................ 7,596
Other assets ................ 2,751
Other expenses ............... 2,944
Other liabilities .............. 5,867
Other credit card revenue ........... 1,604
Property, plant, and equipment ....... 25,493
Receivables ................. 6,153
Sales ................. 65,786
Selling, general, and administrative expenses . 13,469

Instructions
1. Prepare Target’s income statement for the year ending January 29, 2011.
2. Prepare Target’s retained earnings statement for the year ending January 29, 2011.
3. Prepare a balance sheet as of January 29, 2011, for Target.



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  • CreatedFebruary 04, 2014
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