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Understanding the Notes to the Balance Sheet Your friend, Liz, loves to shop at Target and is now interested in investing in the company. Tom, another friend, has told her that Target's debt structure is risky with obligations of nearly 74% of total assets. Liz sees that debt on the balance sheet is 65% of total assets and is confused by Tom's comment. Write an explanation to Liz discussing the debt structure of Target and why Tom thinks Target is risky. Be sure to explain clearly what information appears on financial statements, as well as what information does not appear directly on the financial statements. Use the information below in your discussion. At fiscal year-end February 2, 2008, Target Corporation had the following assets and liabilities on its balance sheet (in millions): Current liabilities $11,782 Long-term debt 15,126 Other liabilities 2,345 Total assets 44,560 Target reported the following information on leases in the notes to the financial statements: Total rent expense was $165 million in 2007, $158 million in 2006, and $154 million in 2005, including percentage rent expense of $5 million in 2007, 2006, and 2005. Most long-term leases include one or more options to renew, with renewal terms that can extend the lease term to more than 50 years. Certain leases also include options to purchase the leased property. Future minimum lease payments required under non-cancellable lease agreements existing at February 2, 2008, were: Future Minimum Lease Payments (in Millions) Operating Leases Capital Leases 2008 $ 239 $ 12 2009 187 16 2010 173 16 2011 129 16 2010 123 17 After 2010 2, 843 155 Total future minimum lease payments $3694 (a) $232 Less: Interest (b) (105) Present value of minimum capital lease payments $127 (c) a) Total contractual lease payments include $1,721 million related to options to extend lease terms that are reasonably assured of being exercised, and also include $98 million of legally binding minimum lease payments for stores that will open in 2008 or later. (b) Calculated using the interest rate at inception of each lease. (c) Includes current portion of $4 million.
A sales force manager needs to have information in order to decide whether to create a custom motivation program or purchase one offered by a consulting firm. What are the dilemmas the manager faces in selecting either of these alternatives?
Which of the following is true regarding convertible bonds? Select all that apply
in your final paper you will select and explain at least one of the following types of insurance listed below and
A comic book I purchased for 10 cents in 1948 is worth $55 dollars today (2012). What has been the average annual compound rate of return on that valuable asset.
You invest $5,000 for 12 years and earn 6% per year. What is your approximate future value ? Solve, using the Rule of 72.
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What is the incremental cost of going outside versus conducting the survey as in the past?
Discuss the free cash flow model, the adjusted present value model, and the residual income model.
jane doe earns 30000 per year and has applied for an 80000 30-year mortgage at 8 percent interest paid monthly.
Alter Bridge Mfg., Inc., is currently operating at only 85 percent of fixed asset capacity. Current sales are $760,000. How fast can sales grow before any new fixed assets are needed?
Assume that 3-month treasury bills totalling $12 billion were sold in $10,000 denominations at a discount rate of 3.605%. In addition, the treasury department sold 6-month bills totaling $10 billion at a discount rate of 3.55%.
The Idaho lottery agrees to pay the winner $252,000 at the end of each year for the next 20 years. What is the future value of this prize if each payment is put in an account earning 0.07?
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