https://corporate.target.com/annual-reports/2022

This case, based on the balance sheet of Target Corporation, will familiarize you with some of the assets and liabilities of that company. Use the Target Corporation balance sheet to answer the following questions.

Requirements

1. Which balance sheet format does Target use? (Hint, the formats are covered in Chapter 4)
2. Name the company's largest current asset and largest current liability on January 28, 2023.
3. Compute Target's current ratios on January 28, 2023, and January 29, 2022. Did the current ratio improve, worsen, or hold steady?
4. Under what category does Target report furniture, fixtures, and equipment?
5. What was the cost of the company's property, plant, and equipment on January 28, 2023? What was the amount of accumulated depreciation? What was the book value of the property, plant, and equipment?