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Target Corporation prepares its financial statements according to U.S. GAAP. Targets financial statements and disclosure...

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Accounting

Target Corporation prepares its financial statements according to U.S. GAAP. Targets 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 companys website (www.target.com).

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

b) Income from current operations

c) Net income or net loss

d) Total assets

e) Total equity

2) What was Targets basic earnings per share for the year ended January 30, 2016?

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

3) Regarding Targets audit report:

Who is Targets auditor?

Did Target receive a clean (unmodified) audit opinion?

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