Link to the Target 2016 annual report- https://corporate.target.com/annual-repor

Question

Link to the Target 2016 annual report- https://corporate.target.com/annual-reports/pdf-viewer-2016?cover=28067&parts=28073

On page 32 of the annual report is Target Income statement (called the Consolidated Statements of Operations). On page 34 is the Balance Sheet (called the Consolidated Statements of Financial Position).

Note: the Balance Sheet ending date for current Fiscal Year (FY) 2016 is January 28, 2017. The Balance Sheet ending date for prior FY 2015 is January 30, 2016.

Requirements:  Answer the following questions using Target 2016 Annual Report. You may work with another student but the work must be on your own. Use correct formatting and proper grammar.  The financial reports are stated in millions of dollars. When possible, please write answers exactly as they appear in the financial statements. Include commas when writing dollar amounts.  Do not include dollar signs.  Do not include the word million.  Do not include the % sign.

Question 9. What was the amount of depreciation and amortization expense for the current FY?

Answer: $______million

Question 10. What was the amount of accumulated depreciation for the current FY?  Note: Do not type parenthesis or negative sign.

Answer: $______million

Question 11. What was the net book value for property and equipment for the current FY?

Question 12. Compute the asset turnover ratio for the current FY. Round to two decimal places.

Answer:_____times

Explanation / Answer

Question 9:

The amount of depreciation and amortization expense for the current FY -2016 is $2,298 million.

(Page Number -32)

Question 10:

The amount of accumulated depreciation for the current FY -2016 is $17,413 million

(Page number -34)

Question 11:

The net book value for property and equipment for the current FY -2016 is $24,658 million.

(Page number -34)

Question 12:

Asset turnover ratio = Net sales ÷ Average total assets

Net sales = $69,495 million

Aveage total assets = (Beginning total assets of FY 2016 + Closing total assets of FY 2016) ÷ 2

= ($40,262 million + $37,431 million) ÷ 2

= $38,846.5 million

The asset turnover ratio for the current FY = $69,495 million ÷ $38,846.5 million = 1.79 times

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