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Using the attached financial statements attached, ratios need to be calculated for all boxes that are greyed out.  Please provide details of how these ratios are calculated.

Using the attached financial statements attached, ratios need to be calculated for all boxes that are greyed out.  Please provide details of how these ratios are calculated.

FINANCIAL ACCOUNTING
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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Using the attached financial statements attached, ratios need to be calculated for all boxes that are greyed out.  Please provide details of how these ratios are calculated.  

**Vertical Analysis - Balance Sheets** **Target Corporation** **Instructions:** Use the 2018 Annual report for both years’ figures. Complete all greyed boxes. Ratios should be carried to two decimal places. --- ### FY 2018 Balance Sheet #### Assets - **Cash and cash equivalents** - 2018: $1,556 - 2017: $2,643 - **Inventory** - 2018: $9,497 - 2017: $8,597 - **Other current assets** - 2018: $1,466 - 2017: $1,300 - **Total current assets** - 2018: $12,519 - 2017: $12,540 - **Property and equipment** - **Land** - 2018: $6,064 - 2017: $6,095 - **Buildings and equipment** - 2018: $29,240 - 2017: $28,131 - **Fixtures and equipment** - 2018: $5,912 - 2017: $5,623 - **Computer hardware and software** - 2018: $2,544 - 2017: $2,645 - **Construction-in-progress** - 2018: $460 - 2017: $410 - **Accumulated depreciation** - 2018: $(18,687) - 2017: $(18,338) - **Property and equipment, net** - 2018: $25,533 - 2017: $24,526 - **Operating Lease Assets** - 2018: $1,966 - 2017: $1,884 - **Other noncurrent assets** - 2018: $1,273 - 2017: $1,353 - **Total Assets** - 2018: $41,290 - 2017: $40,303 --- #### Liabilities - **Accounts payable** - 2018: $9,761 - 2017: $8,677 - **Accrued and other current liabilities** - 201
Transcribed Image Text:**Vertical Analysis - Balance Sheets** **Target Corporation** **Instructions:** Use the 2018 Annual report for both years’ figures. Complete all greyed boxes. Ratios should be carried to two decimal places. --- ### FY 2018 Balance Sheet #### Assets - **Cash and cash equivalents** - 2018: $1,556 - 2017: $2,643 - **Inventory** - 2018: $9,497 - 2017: $8,597 - **Other current assets** - 2018: $1,466 - 2017: $1,300 - **Total current assets** - 2018: $12,519 - 2017: $12,540 - **Property and equipment** - **Land** - 2018: $6,064 - 2017: $6,095 - **Buildings and equipment** - 2018: $29,240 - 2017: $28,131 - **Fixtures and equipment** - 2018: $5,912 - 2017: $5,623 - **Computer hardware and software** - 2018: $2,544 - 2017: $2,645 - **Construction-in-progress** - 2018: $460 - 2017: $410 - **Accumulated depreciation** - 2018: $(18,687) - 2017: $(18,338) - **Property and equipment, net** - 2018: $25,533 - 2017: $24,526 - **Operating Lease Assets** - 2018: $1,966 - 2017: $1,884 - **Other noncurrent assets** - 2018: $1,273 - 2017: $1,353 - **Total Assets** - 2018: $41,290 - 2017: $40,303 --- #### Liabilities - **Accounts payable** - 2018: $9,761 - 2017: $8,677 - **Accrued and other current liabilities** - 201
# Calculate the Ratios for the Following Financial Statements ## Vertical Analysis - Income Statement ### Target Corporation **Instructions:** Use the 2018 Annual report for both years' information. Complete all greyed boxes. Ratios should be carried to 2 decimal places. | Item | FY 2018 | % | FY 2017 | % | |--------------------------------------------------|--------------|---------|--------------|---------| | Sales (add both revenue figures) | $75,356 | 100.00% | $72,714 | 100.00% | | Cost of sales | $53,299 | | $51,125 | | | **Gross margin** | $22,057 | | $21,589 | | | Selling, general, and administrative expenses | $15,728 | | $15,140 | | | Depreciation and amortization | $2,224 | | $2,225 | | | **Operating Income** | $4,110 | | $4,224 | | | Net interest expense | $463 | | $653 | | | Net other (income)/expense | $29 | | $59 | | | **Earnings from continuing operations before income taxes** | $3,676 | | $3,630 | | | Provision for income taxes | $746 | | $722 | | | **Net earnings from continuing operations** | $2,930 | | $2,908 | | | Discontinued operations, net of tax | $7 | | $6 | | | **Net earnings/(loss)** | $2,937 | | $2,914 | | ### Key Points: - The statements outline financial figures from Target Corporation for fiscal years 2018 and 2017. - It displays key financial data points like Sales, Cost of Sales, Operating Income, among others. - The table highlights the percentage (%) relationship of each item relative to total sales (not calculated here).
Transcribed Image Text:# Calculate the Ratios for the Following Financial Statements ## Vertical Analysis - Income Statement ### Target Corporation **Instructions:** Use the 2018 Annual report for both years' information. Complete all greyed boxes. Ratios should be carried to 2 decimal places. | Item | FY 2018 | % | FY 2017 | % | |--------------------------------------------------|--------------|---------|--------------|---------| | Sales (add both revenue figures) | $75,356 | 100.00% | $72,714 | 100.00% | | Cost of sales | $53,299 | | $51,125 | | | **Gross margin** | $22,057 | | $21,589 | | | Selling, general, and administrative expenses | $15,728 | | $15,140 | | | Depreciation and amortization | $2,224 | | $2,225 | | | **Operating Income** | $4,110 | | $4,224 | | | Net interest expense | $463 | | $653 | | | Net other (income)/expense | $29 | | $59 | | | **Earnings from continuing operations before income taxes** | $3,676 | | $3,630 | | | Provision for income taxes | $746 | | $722 | | | **Net earnings from continuing operations** | $2,930 | | $2,908 | | | Discontinued operations, net of tax | $7 | | $6 | | | **Net earnings/(loss)** | $2,937 | | $2,914 | | ### Key Points: - The statements outline financial figures from Target Corporation for fiscal years 2018 and 2017. - It displays key financial data points like Sales, Cost of Sales, Operating Income, among others. - The table highlights the percentage (%) relationship of each item relative to total sales (not calculated here).
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