Refer to the financial statements and footnotes of Target given in Appendix B at the end of this book. All dollar amounts are in millions.

Data From in Appendix B 

Required:
1. Where does Target report the amount of cash paid for interest during the most recent fiscal year?
a. Statement of Operations
b. Statement of Shareholders’ Investment
c. Statement of Cash Flows
d. Statement of Financial Position
e. None of the above
2. What is the amount of cash Target paid for interest during the most recent fiscal year?
a. $939
b. $1,031
c. $2,480
d. $1,343
e. $977
3. What is the amount of long-term debt that Target added during the most recent fiscal year?
a. $4,250
b. $2,480
c. $3,250
d. $1,770
e. $3,607
4. Target has an agreement to borrow money if needed. What is the total amount the company can borrow under what it calls its “unsecured revolving credit facility”?
a. $2,500
b. $3,607
c. $11,536
d. $1,939
e. None of the above
5. For the most recent fiscal year, compute the debt-to-equity ratio for Target.
a. 1.39
b. 2.55
c. 0.39
d. 1.16
e. 3.55

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Consolidated Statements of Financial Position (millions, except footnotes) Assets Cash and cash equivalents Inventory Other current assets Total current assets Property and equipment Land Buildings and improvements Fixtures and equipment Computer hardware and software Construction-in-progress Accumulated depreciation Property and equipment, net Operating lease assets Other noncurrent assets Total assets Liabilities and shareholders' investment Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Total current liabilities January 30, 2021 $ 8,511 $ 10,653 1,592 20,756 February 1, 2020 6,141 31,557 5,914 2,765 780 (20,278) 26,879 2,227 1,386 51,248 $ $ $ 12,859 $ 6,122 1,144 20,125 2,577 8,992 1,333 12,902 6,036 30,603 6,083 2,692 533 (19,664) 26,283 2,236 1,358 42,779 9,920 4,406 161 14,487