1) Compute trend analyses for Sales and Net earnings / (loss). Use 2013 as the base year. What is the most notable aspect of these data?

2) Perform a vertical analysis for Target Corporation's balance sheet as of January 31, 2016 (fiscal year 2015), and January 31, 2015 (fiscal year 2014). Include only these main categories:

Assets:

Total current assets

Property and equipment, net

Noncurrent assets of discontinued operations

Other noncurrent assets

Total assets

Liabilities and shareholders' investment:

Total current liabilities

Total noncurrent liabilities

Total shareholders' investment

Total liabilities and shareholders' investment

Calculation (Dollars in Millions)

Total current assets: $14,130 - $13,624 = $506; $506/$13,624 = 3.6%

Property and equipment, net: $25,217 - $25,952 = ($735); ($735)/$25,952 = (2.9%)

Noncurrent assets of discontinued operations: $75 - $717 = ($642); ($642)/$717 = (856%)

Other noncurrent assets; $840 - $879 = ($39); ($39)/$879 = (4.6%)

Total assets; $40,262 - $41,172 = ($910); ($910)/$41,172 = (2.3%)

Liabilities and shareholders' investment:

Total current liabilities; $12,622 - $11,736 = $886 ; $886 / $11,736 = 7.0%

Total noncurrent liabilities; $14,683 - $15,439 = ($756) ; ($756)/$15,439 = (5.1%)

Total shareholders' investment; $12,957 - $13,997 = ($1,040); ($1,040)/$13,997 = (8.0%)

Total liabilities and shareholders' investment; $40,262 - $41,172 = ($910); ($910)/$41,172 = (2.3%)

Sales/Net Profit Change

2015 from 2013

Sales: $73,785 - $71,279 = $2,506; $2,506/$71,279 = 3.5%

Net Profit: $3,363 - $1,971 = $1,392; $1,392/$1,971 = 70.6%

2014 from 2013

Sales: $72,618 - $71,279 = $1,339; $1,339/$71,279 = 1.9%

Net Profit: ($1,636) - $1,971 = ($3,607); ($3,607)/$1,971 = (183.0%)

Please see the attached file for the complete solution