Case Assignment 13-1

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Q Description Financial Statement Case Assignments are a collection of individual assignments whose total point value equals 160. Please read the General Information and Instructions for the Financial Statement Case Assignments carefully before starting. Make sure you know how the fiscal year for Target Corporation is presented by watching this video. Financial Statement Case 13-1 Requirements 1. Review the stockholders’ equity section of the balance sheet. Did Target have any preferred stock at January 30, 2021? 2. Now examine the notes at the bottom of the balance sheet. Is Target authorized to issue preferred stock? If so, how much? 3. How much of Target Corporation’s common stock was outstanding on January 30, 2021? How can you tell? 4. Examine Target Corporation’s consolidated statements of cash flows. Did Target pay any cash dividends during the year ending January 30, 2021? If so, how much? 5. Using the formula found in your textbook, show how Target Corporation computed basic earnings per share of $8.72 for fiscal year 2020. (Ignore diluted earnings per share.) Rubric Financial Statement Case 13-1 Rubric Financial Statement Case 13-1 Rubric Criteria Ratings Pts This criterion is linked to a Learning OutcomeQuestion 1 4 pts Full Points Question answered accurately. 2 pts Half Points 1/2 of the question answered correctly 0 pts No Points Both parts of question answered incorrectly. 4 pts This criterion is linked to a Learning OutcomeQuestion 2 8 pts Both parts of question answered accurately 4 pts Half points Half of the question answered correctly 0 pts No points Answer is incorrect 8 pts This criterion is linked to a Learning OutcomeQuestion 3 8 pts Full Points Both parts of the question answered correctly. 4 pts Half points Half of the questions are answered correctly. 0 pts No Points Answers are incorrect 8 pts This criterion is linked to a Learning OutcomeQuestion 4 8 pts Full Points Both parts of the question are answered correctly. 4 pts Half points Half of the questions are answered correctly. 0 pts No Points Answers are incorrect. 8 pts This criterion is linked to a Learning OutcomeQuestion 5 4 pts Full Points Question answered correctly. 2 pts Half points Half of the question is answered accurately. 0 pts No Points Answers are incorrect. 4 pts Total Points: 32 PreviousNext

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Requirement-1 The shareholder’s investment section of the consolidated balance sheet of the Target Company shows that the Company is not having the preferred stock and the Company only has one class of stock called common stock. Requirement-2 Yes, the Company has authorized to issue preferred stock of 5,000,000 shares having $0.01 par value. Requirement-3 The note at the bottom of the consolidated balance sheet of the Target Company shows that the Company has 500,877,129 outstanding common stocks as of January 30, 2021.

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