Calculate the Sales Growth of the most recent year. Enter answer as decimal (not percent. Example: .1234 is ok, 12.34% is not ok). Balance SheetsAnnual Financials for Target Corp.AssetsFiscalyearis February-lanuary. Allvalues USD milios.201820192020Cash & Short Term Investments2,840 1,5802,580Total Accounts Receivable929 1,100Bad Debt/Doubtful AccountsOther Receivables513832Inventories8,600 9,5008,990Progress Payments & OtherOther Current Assets3713681,330Miscellaneous Current Assets2142091,330Total Current Assets12,540 12,520 12,900Net Property, Plant & Equipment26,420 27,500 28,520Property, Plant & Equipment- Gross 44,820 46, 190 48, 180BuildingsLand & Improvements28,130 29,240 30,0006,100 6,0606,040Computer Software and Equipment2,650 2,5402,890Other Property, Plant & Equipment5,620 5,9106,080Accumulated Depreciation18,400 18,690 19,680Total Investments and Advances383380Other Long-Term Investments383380Long-Term Note ReceivableIntangible AssetsNet Goodwill709899830в33Net Other Intangi ble7968Other Assets2511941,300Tangible Other Assets2051831,360Total Assets40,300 41,290 42,780Liabilities & Shareholders' EquityST Debt & Current Portion LT Debt2,018 2,0192,0204291,220181Short Term Debt148166Current Portion of Long Term DebtAccounts Payable2811,0501818,880 9,7809,920Income Tax PayableOther Current Liabilities3,950 4,0404,410Dividends Payable336331Accrued Payroll1,350 1,370Miscellaneous Current Liabilities2,260 2,3304.410Total Current Liabilities13,050 15,010 14,490Long-Term DebtProvision for Risks & Charges13,040 12,230 13,6104140Deferred Taxes6939721,120Other Liabilities1,830 1,7401,720Total Liabilities28,850 29,990 30,950Common Equity (Total)11,850 11,300 11,830Common Stock Par/Carry Value454342Retained Earnings8,500 8,0208,430-13-20Cumulative Adjus t/Unrealized For. Exch. GainUnrealized Gain/Loss Ma rketable SecuritiesTreasury StockTotal Shareholders' Equity11,850 11,300 11,830Accumulated Minority InterestTotal Equity11,650 11,300 11,830Liabilities & Shareholders' Equity40,300 41,290 42,780 Annual Financials for Target Corp.INCOME STATEMENTSFiscal year is FebJan. All values USD millions.201820192020Sales/Revenue72,710 75,360 78,110Cost of Goods Sold (COGS) incl. D&A 53,350 55,520 57,220COGS excluding D&A50,870 53,050 54,620Depreciation & Amortization Expense2,480 2,470 2,600Depreciation2,460 2,460Amortization of Intangibles1414Gross Income19,360 19,830 20,890SG&A Expense15,050 15,630 16,230Research & DevelopmentOther SG&A15,050 15,630Other Operating ExpenseUnusual ExpenseEBIT after Unusual Expense2059510-205 4,110 4.650Non Operating Income/ExpenseNon-Operating Interest IncomeEquity in Affiliates (Pretax)59289Interest Expense539459467Gross Interest ExpenseInterest Capitalized539459487Pretax Income3,630 3,680 4,190Income Tax722748921Consolidated Net Income2,910 2,930 3,270Minority Interest ExpenseNet Income (before extraord & Pref Div) 2,910 2,930 3,270Ertraordinaries & Discontinued Operations712Net Income After Extraordinaries2.910 2,940 3,280Preferred DividendsNet Income Available to Common2,910 2,940 3,280EPS (Basic)Basic Shares OutstandingEPS (Diluted)Diluted Shares Outstanding5475295116550533516EBITDA6,790 6,680 7,260

Sales is the revenue which a company has earned during the year by way of providing the services or…

Answered: Calculate the Sales Growth of the most…

Business

Accounting

Calculate the Sales Growth of the most recent year

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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Required: 1. Complete the following columns for each item in the comparative financial statements (Negative answers shoul be indicated by a minus sign. Round percentage answers to 2 decimal places, i.e., 0.1243 should be entered as 12.43.): Increase (Decrease) Year 2 over Year 1 Amount Percentage Statement of earnings: Sales revenue Cost of sales Gross margin Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings $ 45,770 38,650 7,120 4,020 3,100 1,050 $ 2,050 Statement of financial position: Cash (4,720) Accounts receivable (net) (4,220) Inventory 6,200 Property, plant, and equipment (net) 6,380 $ 3,640 Current liabilities (3,840) Long-term debt 3,530 Common shares 0 Retained earnings 3,950 $ 3,640
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Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. Note: Round your percentage answers to 1 decimal place. GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year $ Current Year % Prior Year $ Prior Year % Sales $ 725,000 100.0 $ 665,000 Cost of goods sold 562,700 1.0 291,000 Gross profit 162,300 0.4 374,000 Operating expenses 129,200 268,400 Net income 33,100 $ 105,600 Income Statement Reason for Decline in Net Income >
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