Use the Target Corporation’s annual report in Appendix B to answer the following questions related to Target’s 2009 fiscal year. You will need to read carefully the company’s Consolidated Statements of Financial Position (balance sheets) as well as footnotes 16 through 19.

Required
a. What percentage of Target’s assets was being financed with liabilities (versus shareholders’ equity)?
b. How does Target account for bank overdrafts, and how much overdrafts did it have as of January 30, 2010?
c. What was the average interest rate that Target paid on its borrowings?
d. Target reported Accrued and Other Liabilities of $3,120 as of January 30, 2010. What was the largest subcategory of liabilities included in this account?