Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for

Question:

Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended January 30, 2016, are available in the Connect. This material also is available under the Investor Relations link at the company's website (www.target.com).

Required:

1. What amounts did Target report for the following items for the year ended January 30, 2016?

a. Total Revenues

b. Income from current operations

c. Net income or net loss

d. Total assets

e. Total equity

2. What was Target's basic earnings per share for the year ended January 30, 2016?

3. Why do you think Target has chosen to have its fiscal year end on January 30, as opposed to December 31?

4. Regarding Target's audit report:

a. Who is Target's auditor?

b. Did Target receive a "clean" (unmodified) audit opinion?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...