2. Target report for the following items on February 1, 2020: Current asset: $ 12,902 Long-term assets: $29,877 Total Assets: $42,779 Current liabilities: $14,487 Long-term liabilities: $16,459 Total liabilities: $30,946 Total shareholders' equity: $11,833 3. What was target's largest current asset? What was its largest current liability? Its largest current asset is inventory which is $8,992 million Its largest current liability is Accounts payable which is $9,920 million 4. Compute Target's current ratio and debt-to-equity ratio in 2020? current ratio: current assets/current liabilities 12,902+14,487 = 0.89 to 1 debt-to-equity ratio: total liabilities/shareholder's equity 30,946+11,833 = 2.62 to 1 5. Assuming Target's industry had an average current ratio of 1.0 and an average debt to equity of 2.5, comment on Target's liquidity and long term solvency.

2. Target report for the following items on February 1, 2020: Current asset: $ 12,902 Long-term assets: $29,877 Total Assets: $42,779 Current liabilities: $14,487 Long-term liabilities: $16,459 Total liabilities: $30,946 Total shareholders' equity: $11,833 3. What was target's largest current asset? What was its largest current liability? Its largest current asset is inventory which is $8,992 million Its largest current liability is Accounts payable which is $9,920 million 4. Compute Target's current ratio and debt-to-equity ratio in 2020? current ratio: current assets/current liabilities 12,902+14,487 = 0.89 to 1 debt-to-equity ratio: total liabilities/shareholder's equity 30,946+11,833 = 2.62 to 1 5. Assuming Target's industry had an average current ratio of 1.0 and an average debt to equity of 2.5, comment on Target's liquidity and long term solvency.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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