Obtain the Target Corporation’s annual report at http://investors.target.com using the instructions in Appendix B and use it to answer the following questions:

a. For the year ended January 28, 2017 (2016), which was larger, Target’s net income or its cash flow from operating activities? By what amount did they differ?
b. What two items are most responsible for the difference between Target’s net income and its cash flow from operating activities in 2016?
c. In 2016, Target generated approximately $5.4 billion of cash from operating activities, and its cash balance decreased by $1.5 billion. How did the company use this $6.9 billion of cash?