Answer the following questions about the Target balance sheet. 1. Which balance sheet format does Target use?
2. Name the company’s largest current asset and largest current liability at January 30, 2016.
3. Compute Target’s current ratios at January 30, 2016, and January 31, 2015. 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 at January 30, 2016? What was the amount of accumulated depreciation? What was the book value of the property, plant, and equipment?

1. Which balance sheet format does Target use?

Consolitated Statements of Financial Position

2. Name the company’s largest current asset and largest current liability at January 30, 2016.

Largest current asset: inventory $8,601 million

Largest current liability: accounts payable $7,418 million

3. Compute Target’s current ratios at January 30, 2016, and January 31, 2015. Did the current ratio improve, worsen, or hold steady?

Current ratio 2016 = 14,130 / 12,622 = 1.12

Current ratio 2015 = 13,624 / 11,736 = 1.16

We can see that the current ratio worsened a bit from 2015 to 2016.

4. Under what category does Target report furniture, fixtures, and equipment?

Under property, land, and equipment.

5. What was the cost of the company’s property, plant, and equipment at January 30, 2016?

$55,593 million

What was the amount of accumulated depreciation?

$16,246 million

What was the book value of the property, plant, and equipment?

$25,217 million