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Case Assignment 16-1

Case Assignment 16-1

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 16-1 Requirements 1. Which method does Target use to report net cash flows from operating activities? How can you tell? 2. Target earned net income during fiscal year 2020. Did operations provide cash or use cash during 2020? Give the amount. How did net cash provided by (used for) operations during 2020 compare with net income in 2020? 3. For the year ended January 30, 2021 (fiscal year 2020), did Target pay cash dividends? If so, how much? 4. For the year ended January 30, 2021, did Target use cash to purchase property, plant, and equipment? If so, how much? Rubric Financial Statement Case 16-1 Rubric Financial Statement Case 16-1 Rubric Criteria Ratings Pts This criterion is linked to a Learning OutcomeQuestion 1 8 pts Full Points Both parts of question answered accurately. 4 pts Half Points 1/2 of the questions answered correctly 0 pts No Points Both parts of question answered incorrectly. 8 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 Total Points: 32 PreviousNext

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Case Assignment 16-1 Requirement-1 The consolidated statement of cash flows of the Target Company shows that the first line item of the operating activities section is the net income, so the Company is using the indirect method to report the net cash flows from operating activities. Requirement-2 The net cash provided by the operating activities for the Target Company for the year ended 2020 was $10,525 million. The net income for the year ended 2020 was $4,368 million. The difference between the net income and net cash provided by operating activities was because of the non-cash items and the changes in the working capital.