i) Perform  horizontal an

i) Perform  horizontal an

i) Perform  horizontal analysis and calculate percent changesii) Calculate the following ratios for fiscal year 2008:a. Current Ratiob.Acid-test ratioc.Inventory turnoverd.Days’ sales in receivablese.Debt Ratiof.Times-Intrest-earned ratioig.Rate of return on net salesh.Rate of return on total assetsi.Rate of return on common stockholders’ equityj.Earnings per share of common stockholders’ equityk.Price/earnings ratiol. Dividend yieldm. Book value per share of common stockTarget Corporation income statment is presented belowTarget CorporationIncome Statment (Adapted)For the Fiscal Year 2008 and 2007(Dollars in Million)                                                2008                         2007Sales Revenue**                                                 $63,339                      $62,530Cost of Goods Sold                                            44,157                          42,929Gross Profit                                                          19,182                        19,601Operating Expenses:                                           12,954                         12,670Selling,general,and Administrative                     1,826                             1,659Depreciation                                                         4,402                           5,272Operating income                                                 866                                 647Intrest expense,net                                               1,322                           1,776Income tax expense                                              $2,214                        $2,489Net incomeAlso, the company’s balance sheet (adaptes), at the end of fiscal year 2008 and 2007 provided.Target CorporationBalance Sheet (Adapted)End of Fiscal Year*(Dollars In Millions)                                           2008             2007Current assets                                                 $864              $2,450Cash and Cash equivalents                             8,084              8,054Credit Card receivables, net of allowance        6,705              6,780Other Current Assets                                        1,835              1,622Total Current Assets                                        17,488             18,906Property,plant,and equitment net                   25,756               24,095Other noncurrent assets                                 862                    1,559Total Assets                                                  $44,106               $44,560Current LiablilitesAccounts Payable                                        $6,337                  $$6,721Other Current Liabilites                                 4,175                      5,061Total current liabilites                                    10,512                 11,782Long-term liabilites                                        19,882                  17,471Total Liabilites                                                30,394                  29,253Common stock and Additional paid in capital   2,825                   2,724Retained earnings*                                          10,887                  12,583Total stockholders’ equity                                13,712                   15,307Total liabilites and equity                                 $44,106                 $44,560* January 31 2009 ( fiscal year 2008) and Febuary 2,2008 ( Fiscal year 2007)Other Company Information is as followsTarget has no prefeered stock issued or outstandingThere were 752,712,464 common shares issued and outsanding at the end of fiscal year 2008Cash dividends of $0.62 per share were declared during fiscal year 2008The closing marker price per share was $31.20 on Friday,January 30,2009 ( the end of fiscal year 2008) and $57.05 on Friday,Febuary 1,2008 (the end of fiscal year 2007)

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