Business Applications Case Understanding real-world annual reports
Required
Use the Target Corporation’s annual report in Appendix B to answer the following questions
a.What was Target’s net income for 2008?
b.Did Target’s net income increase or decrease from 2007 to 2008. and by how much?
c.What was Target’s accounting equation for 2008?
d. Which of the following had the largest percentage change from 2007 to 2008: net sales, cost of sales, or selling, general, and administrative expenses? Show all computations.
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