The following financial data were adapted from a recent annual report of Target Corporation for the year ending January

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The following financial data were adapted from a recent annual report of Target Corporation for the year ending January 28, 20Y2.In millionsAccounts payable …………….$ 6,857Capital stock …………….. 2,862Cash …………………. 794Cost of goods sold …………..47,860Debt and other borrowings ……….. 17,483Income tax expense ………….. 1,527Interest expense ……………. 866Inventories ……………… 7,918Other assets …………….. 2,842Other expenses …………….. 2,577Other liabilities ……………. 6,469Other credit card revenue ………… 1,399Property, plant, and equipment ………29,149Receivables ……………… 5,927Sales ………………..68,466Selling, general, and administrative expenses ….14,106Instructions1. Prepare Targetâ€™s income statement for the year ending January 28, 20Y2.2. Prepare Targetâ€™s retained earnings statement for the year ending January 29, 20Y2. (The retained earnings at January 29, 20Y1, was $12,698. During the year, Target paid dividends and had other reductions in retained earnings of $2,668.)3. Prepare a balance sheet as of January 28,

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Below are given three statement Income Statement Retaines Earning Balance Sheet 1. Table showing computation of income statement January 28, 20Y2 Items Amount (in $millions) Amount (in $millions) Sales 68,466 Add: other credit card revenue 1,399 Total Revenue 69,865 less: cost of good sold (47,860) Gross profit 22,005 less: selling, general and adminstrative expenses 14,106 income tax expenses 1,527 other expenses 2,577 interest expenses 866 Total expenses (19,076) Net income (Total revenue - Expenses) 2,929 2. Table showing computation of Retained Earning January 28, 20Y2 Items Amount (in $millions) Amount (in $millions) Retained earning at beginning 12,698 Add: net income 2,929 Less: dividends and other deductions (2,668) Retained earning at end 12,959 3. Table showing compuatation of Balance sheet January 28, 20Y2 Items Amount (in $millions) Amount (in $millions) Assets current asssets cash 794 inventories 7,918 receivables 5,927 Total current assets 14,639 property, plant nad equipment 29,149 other assets 2,842 Total assets 46,630 Liabilities and other equity current liabilities account payable 6,857 Debt and other borrowing 17,483 other liabilities 6,469 owner's equity capital stock 2,862 Retained earning at end 12,959 Total owner's equity 15,821 Total liabilities and owner's equity 46,630

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The following financial data were adapted from a recent annual report of Target Corporation for the year ending January 28, 20Y2

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Items	Amount (in $millions)	Amount (in $millions)
Sales	68,466
Add: other credit card revenue	1,399
Total Revenue		69,865
less: cost of good sold		(47,860)
Gross profit		22,005
less: selling, general and adminstrative expenses	14,106
income tax expenses	1,527
other expenses	2,577
interest expenses	866
Total expenses		(19,076)
Net income (Total revenue - Expenses)		2,929