Horngren's Accounting (12th Edition)
12th Edition
ISBN: 9780134486444
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 17, Problem 17.1FSC
Financial Statement Case 17-1
Use Target Corporation’s Fiscal 2015 Annual Report to answer the following questions. Visit http://www.pearsonhighered.com/Horngren to view a link to the Target Corporation Annual Report.
Requirements
- Compute trend analyses for Sales and Net earnings / (loss). Use 2013 as the base year. What is the most notable aspect of these data?
- 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 shareholder’s investment |
| Total liabilities and shareholders' investment |
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Access the February 21, 2017, filing of the December 31, 2016, 10-K report of The Hershey Company (ticker: HSY) at SEC.gov and complete the following requirements. Required Compute or identify the following profitability ratios of Hershey for its years ending December 31, 2016, and December 31, 2015. Interpret its profitability using the results obtained for these two years. 1. Profit margin ratio (round the percent to one decimal). 2. Gross profit ratio (round the percent to one decimal). 3. Return on total assets (round the percent to one decimal). (Total assets at year-end 2014 were $5,622,870 in thousands.) 4. Return on common stockholders’ equity (round the percent to one decimal). (Total shareholders’ equity at year-end 2014 was $1,519,530 in thousands.) 5. Basic net income per common share (round to the nearest cent).
Obtain Target Corporation's annual report for its 2018 fiscal year (year ended February 2, 2019) at http://investors.target.com
a. What was Target's gross margin percentage for the fiscal year ended February 2, 2019 (2018) and 2017? Use "Sales" for these computations
b. What was Target's Return on Sales percentage for 2018 and 2017? Use "Total Revenue" for these computations.
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Using the fiscal year end 2020 annual report for General Mills, Inc. and the figures from the 2020 annual report as noted below, calculate the financial ratios for 2020 and 2019 indicated using the EXCEL template provided:1. Gross profit percentage2. Return on sales3. Asset turnover 4. Return on assets5. Return on common stockholders’ equity6. Current ratio7. Quick ratio8. Operating-cash-flow-to-current-liabilities ratio9. Accounts receivable turnoverTotal assets 2020 = $30,806.7Total stockholders’ equity 2020 = $8,349.5Total current liabilities 2020 = $7,491.5Accounts receivable 2020 = $1,615.1Inventory 2020 = $1,426.3Year-end closing stock price May 2020 = $58.80Year-end closing stock price May 2019 = $53.56
To calculate averages use (current year balance + poor year balance) / 2) Round percentages to 1 decimal place; round other answers to 2 decimal places.
Chapter 17 Solutions
Horngren's Accounting (12th Edition)
Ch. 17 - Prob. 1QCCh. 17 - Prob. 2QCCh. 17 - Prob. 3QCCh. 17 - Prob. 4QCCh. 17 - Prob. 5QCCh. 17 - Prob. 6QCCh. 17 - Prob. 7QCCh. 17 - Prob. 8QCCh. 17 - Prob. 9QCCh. 17 - Prob. 10QC
Ch. 17 - Prob. 1RQCh. 17 - Prob. 2RQCh. 17 - Prob. 3RQCh. 17 - Prob. 4RQCh. 17 - Prob. 5RQCh. 17 - Prob. 6RQCh. 17 - What is benchmarking, and what are the two main...Ch. 17 - Prob. 8RQCh. 17 - Prob. 9RQCh. 17 - Prob. 10RQCh. 17 - Prob. 11RQCh. 17 - Prob. 12RQCh. 17 - Prob. 13RQCh. 17 - Prob. S17.1SECh. 17 - Prob. S17.2SECh. 17 - Prob. S17.3SECh. 17 - Prob. S17.4SECh. 17 - Prob. S17.5SECh. 17 - Prob. S17.6SECh. 17 - Computing inventory, gross profit, and receivables...Ch. 17 - Prob. S17.8SECh. 17 - Measuring profitability Learning Objective 4...Ch. 17 - Prob. S17.10SECh. 17 - Prob. S17.11SECh. 17 - Prob. S17.12SECh. 17 - Prob. E17.13ECh. 17 - Prob. E17.14ECh. 17 - Prob. E17.15ECh. 17 - Prob. E17.16ECh. 17 - Prob. E17.17ECh. 17 - Prob. E17.18ECh. 17 - Prob. E17.19ECh. 17 - Prob. E17.20ECh. 17 - Prob. E17.21ECh. 17 - Prob. E17.22ECh. 17 - Prob. P17.23APGACh. 17 - Prob. P17.24APGACh. 17 - Prob. P17.25APGACh. 17 - Prob. P17.26APGACh. 17 - Using ratios to evaluate a stock investment...Ch. 17 - Prob. P17.28APGACh. 17 - Prob. P17.29APGACh. 17 - Prob. P17.30BPGBCh. 17 - Prob. P17.31BPGBCh. 17 - Prob. P17.32BPGBCh. 17 - Prob. P17.33BPGBCh. 17 - Prob. P17.34BPGBCh. 17 - Prob. P17.35BPGBCh. 17 - Completing a comprehensive financial statement...Ch. 17 - Prob. P17.37CTCh. 17 - Prob. P17.38CPCh. 17 - Prob. 17.1DCCh. 17 - Prob. 17.1EICh. 17 - Financial Statement Case 17-1 Use Target...
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