Show the following using the proper financial statement (balance sheet, income statement, or cash flow statement):

Property, plant and equipment are stated at cost. Repair and maintenance costs that do not improve service potential or extend economic life are expensed as incurred. Depreciation is recorded principally by the straight-line method over the estimated useful lives of our assets, which are reviewed periodically and generally have the following ranges: buildings and improvements: 40 years or less; and machinery, equipment and vehicle fleet: 20 years or less. Land is not depreciated, and construction in progress is not depreciated until ready for service. Leasehold improvements are amortized using the straight-line method over the shorter of the remaining lease term, including renewals that are deemed to be reasonably assured, or the estimated useful life of the improvement. Depreciation is not recorded during the period in which a long-lived asset or disposal group is classified as held for sale, even if the asset or disposal group continues to generate revenue during the period. Depreciation expense, including the depreciation expense of assets under capital lease, totaled $1,575 million, $1,735 million and $1,716 million in 2016, 2015 and 2014, respectively. Amortization expense for leasehold improvements totaled $22 million, $18 million and $20 million in 2016, 2015 and 2014, respectively. . (From Note 1) December 31, 2016 2015 Land $ 589 $ 717 Buildings and improvements 4,574 4,914 Machinery, equipment and vehicle fleet 16,093 16,723 21,256 22,354 Less accumulated depreciation 10,621 9,783 Property, plant and equipment net $ 10,635 $ 12,571 Property, Plant and Equipment Note Required: 1) Using the information above, and assuming for now that the useful lives for buildings and improvements are 40 years and useful lives for machinery, equipment and vehicle fleet are 20 years, show calculations for depreciation expense for2016 and 2015. 2) Would your calculations from part a) above change if you had additional information about the ages of groups of assets within the overall totals? Explain your answer. For example, if $1,200 of the buildings and improvements amount consisted of buildings purchased between 1990 and 1999, would that change your calculation in a?

3) Which of Targets financial statements (ignore the notes for this part) will reflect the depreciation expense amount? It will not necessarily be listed on its own line. Consider the Statements of Income, Balance Sheets, Statements of Cash Flows, and Statements of Owners Equity.