Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, Minnesota, the company was originally named Good fellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's.

Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; it began expanding the store nationwide in the 1980s and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004. It suffered from a massive and highly publicized security breach of customer credit card data and the failure of its short-lived Canadian subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States.

As of 2017, Target operates 1,834 stores throughout the United States. Their retail formats include the discount store Target, the hypermarket Super Target, and "flexible format" stores previously named City Target and Target Express before being consolidated under the Target branding. Target is often recognized for its emphasis on "the needs of its younger, image-conscious shoppers," whereas its rival Walmart more heavily relies on its strategy of "always low prices.

Target Corporation decide to start its discount store in Saudi Arabia. The Target management hired you as Marketing Manager for its Saudi Arabia operation. You have to establish marketing department starting from the Analysis of market, formulate overall marketing goals, objectives, strategies and tactics within the context of an organization's business, mission, and goals designing and planning the entire function.

To establish the marketing function of Target Corporation, Saudi Arabia, you have to formulate the followings:

Vision

Mission

Business objective.

Product and type of services.   

Develop a marketing Plan for Target Corporation, Saudi Arabia. Define the SWOT analysis for Target Corporation, Saudi Arabia.

Analyze the Micro and Macro environment of the Target Corporation, Saudi Arabia.

How Target Corporation, Saudi Arabia will establish, develop, and enhance mutually beneficial relationships with customers? Discuss all the activities to establish, develop, and maintain customer sales?

Identify the various consumer decision processes for the Target Corporation customer?

How will you establish the market research for making better decision to establish and enhance the marketing?   

How Target Corporation, KSA will evaluate market segments and choose the best ones to serve? How it will create value propositions to meet the requirements of target customers?

How Target Corporation, KSA will manage all of their products and services? What are the steps in the best development process for new products?

Assignment Workload:

The word count for this assignment must be between 2500 to 3000 words.

Use the information given below to answer Questions 10 - 15. Robin Industries, Inc., [RI] manufactures and sells electronic solid fuel powered vehicles popularly known as BatKars [BK]. All units are sold with under a two-year warranty contract with a commitment to replace defective parts and provide the necessary labor services for such repair . During 2018 the corporation sold 6,000 BKs for cash at a unit price of $4,000. Based on past experience, the two-year warranty contracts are estimated to cost the company $380 per unit which included $80 per unit on parts and the balance for labor. These are recorded at the time when the sales are recorded. During 2018, RI incurred actual costs of $990,000 (which consisted of $444,000 for parts and the rest for labor) on repair work called for by customers on the sold units. Apply the expense-based (assurance-type) approach for answering Questions 10 - 12 stated below. NEXT You are then further informed that RI estimates $500 per unit of the product revenues from the above mentioned sales would would be considered as warranty revenues. 40% of these warranty revenues relate to year 2018 and the balance to year 2019. Now apply the revenue-based (service-type) approach for answering Questions 13 - 15.

10] The entry to record the warranty contracts issued in 2018 would be

a. Warranty Expenses ...... DR $1,080,000; Warranty Expenses Payable ...... CR $ 1,080,000.

b. Warranty expenses ...... DR $2,280,000; Cash ...... CR $2,280,000.

c. Warranty Expenses ...... DR $2,280,000; Estimated Warranty Liabilities ...... CR $2,280,000.

d. Warranty expenses ...... DR $2,280,000; Parts Inventory ...... CR $480,000; Direct Labor ...... CR $1,800,000

e. Warranty expenses ...... DR $24,000,000; Cash ...... CR $24,000,000.

11] Prepare the journal entry to record the actual warranty costs incurred by RI during 2018.

a. Warranty expenses ...... DR $1,080,000; Parts Inventory ...... CR $1,080,000.

b. Estimated Warranty Liabilities ...... DR $1,080,000; Parts Inventory ...... CR $1,080,000.

c. Estimated Warranty Liabilities ...... DR $990,000; Parts Inventory ...... CR $444,000; Direct Labor ...... CR $546,000; ..

d. Warranty expenses ...... DR $1,290,000; Estimated Warranty Liabilities ...... CR $1,290,000.

e. Warranty expenses ...... DR $1,080,000; CR Cash ...... $1,080,000.

12. How would the warranty transactions be reported on the financial statements for December 31, 2018 stating the appropriate classifications and amounts?

a. Income Statement: Sales Revenues ... $24,000,000; Warranty Expenses ... $2,280,000; and Balance Sheet: Non-Current Liability - Estimated Liability for Warranties ... $1,290,000.

b. Income Statement: Warranty Revenues ... $24,000,000; Warranty Expenses ... $2,280,000; and Balance Sheet: Current Liability - Estimated Liability for Warranties ... $1,290,000.

c. Income Statement: Sales Revenues ... $24,000,000; Warranty Expenses ... $990,000; and Balance Sheet: Current Liability - Warranties Payable ... $990,000.

d. Income Statement: Sales Revenues ... $24,000,000; Warranty Expenses ... $990,000; and Balance Sheet: Non-Current Liability - Estimated Liability for Warranties ... $1,290,000.

e. None of the above.

13] What would be the journal entry to record the sales of the BatKars and the warranty in 2018?

a. Cash ...... DR $24,000,000; Sales Revenue ...... CR $21,000,000; Warranty Payable ...... CR $3,000,000.

b. Cash ...... DR $24,000,000; Sales Revenue ...... CR $21,000,000; Unearned Warranty Revenue ...... CR $3,000,000.

c. Cash ...... DR $24,000,000; Sales Revenue ...... CR $21,000,000; Gain On Warranty ...... CR $3,000,000.

d. Cash ...... DR $24,000,000; Sales Revenue ...... CR $23,010,000; Warranty Payable ...... CR $990,000.

e. None of the above.

14] The journal entry to record the actual warranty costs incurred in 2018 would be

a. Warranty Expense ...... DR $990,000; Cash ...... CR $546,000; Parts Inventory ...... CR $444,000

b. Warranty Expense ...... DR $990,000; Warranty Payable ...... CR $990,000.

c. Warranty Expense ...... DR $990,000; Estimated Liability for Warranties ...... CR $990,000.

d. Warranty Revenues ...... DR $990,000; Cash ...... CR $546,000; Parts Inventory ...... CR $444,000.

e. Warranty Expense ...... DR $990,000; Direct Labor ...... CR $546,000; Parts Inventory ...... CR $444,000.

15] How would the warranty transactions be reported on the financial statements for December 31, 2018 stating the appropriate classifications and amounts?

a. Income Statement: Sales Revenue ...... $21,000,000; Warranty Revenue ...... $1,200,000; and Warranty Expenses ...... $990,000; and Balance Sheet: Current Liability - Estimated Liability for Warranties ...... $1,800,000.

b. Income Statement: Sales Revenue ...... $21,000,000; Warranty Revenue ...... $1,200,000; Warranty Expenses ...... $990,000; and Balance Sheet: Current Liability - Unearned warranty revenue ...... $1,800,000.

c. Income Statement: Sales Revenue ...... $21,000,000; Warranty Revenue ...... $1,200,000; Warranty Expenses ...... $990,000; and Balance Sheet: Non-Current Liability - Unearned warranty revenue ...... $1,800,000.

d. Income Statement: Sales Revenues ...... $24,000,000; Warranty Expenses ...... $1,200,000; and Balance Sheet: Current Liability - Unearned warranty revenue ...... $1,800,000.

The diameters​ (in inches) of 17 randomly selected bolts produced by a machine are listed. Use a 99​%

level of confidence to construct a confidence interval for ​(a) the population variance sigma squared σ2 and ​(b) the population standard deviation sigmaσ. Interpret the results.

a) The confidence interval for the population variance is​( FILL IN ​, FILL IN ​). ​(Round to three decimal places as​ needed.) Interpret the results. Select the correct choice below and fill in the answer​ box(es) to complete your choice. ​(Round to three decimal places as​ needed.) A.With 99% ​confidence, it can be said that the population variance is greater than (FILL IN IF ANSWER ). B.With 99% ​confidence, it can be said that the population variance is between BLANK and BLANK .C.With 1​% ​confidence, it can be said that the population variance is between BLANK and BLANK . D.With 1​% ​confidence, it can be said that the population variance is less than Fill IN IF ANSWER . ​(b) The confidence interval for the population standard deviation is (FILL IN, FILL IN ) ​(Round to three decimal places as​ needed.) Interpret the results. Select the correct choice below and fill in the answer​ box(es) to complete your choice. ​(Round to three decimal place as​ needed.) A.With 99​% ​confidence, you can say that the population standard deviation is less than (Fill in if answer ) inches. B.With 1​% ​confidence, you can say that the population standard deviation is greater than (Fill in if answer ) inches. C. With 99% ​confidence, you can say that the population standard deviation is between (Blank and Blank ) inches. D.With 1​% ​confidence, you can say that the population standard deviation is between (BLANK AND BLANK) inches

Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 30%.

Required:

Prepare a multiple-step income statement with earnings per share disclosure. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)

Jack Construction Supplies Ltd.

Jack Construction Supplies Ltd. (Jack) is a retail and commercial building supply dealer. Until recently, Jack was part of a national chain of stores, but the chain decided to sell off stores that weren’t in its core business. Several local investors purchased Jack. The purchasers believe that Jack will be successful, but that it wasn’t well managed by the chain. The new investors paid $1,000,000 in cash for Jack. Jack will also pay 25% of net income before unusual or non-recurring items that Jack earns in excess of $500,000 for each of the next three years (including fiscal 2019), as reported in Jack’s general purpose financial statements.

It’s now late January 2020. Jack has just provided its financial statements for the fiscal year ended December 31, 2019 to the national chain as required by the agreement of purchase and sale. The CFO of the company that sold Jack has asked you to examine the financial statements, discuss any issues with Jack’s new management, and identify any problems that might affect net income end the amount the national chain is due as part of the agreement. In your review, you identified the following issues:

1. Jack reported net income before unusual or non-recurring items of $510,000 for the year ended December 31, 2019.
2. Jack’s business with most customers is transacted in cash or on credit cards. Jack offers credit terms to builders and contractors, allowing them up to 90 days to pay. The revenue on these sales is recognized at the time of the exchange. Jack has also given extended credit terms to a number of struggling home builders in its community. The builder began construction of new homes, but sales have been slower than expected. Jack has agreed to accept payment each time a builder sells one of its homes. To date, none of these builders have defaulted on any amounts they owe. Jack recognizes these sales on collection of cash from a builder. As of the end of December 31, 2019, these builders owe $275,000. The costs associated with these sales are $150,000. These costs were expensed as incurred.
3. During 2019, Jack’s management discovered that certain assets purchased several years ago hadn’t been depreciated. The amount of depreciation that should have been expensed to date on these assets, $175,000, was fully expensed in 2019.
4. In mid-2015, Jack obtained an exclusive dealership for a line of high-quality kitchen cabinets. The dealership rights were for an initial five-year period, with five-year renewals possible at the option of the manufacturer. At the time of signing the initial agreement, Jack was assured that a renewal was virtually certain. Jack spent $210,000 to set up displays to promote the line. These costs were capitalized and are being amortized over 10 years. In December 2019, Jack learned that the exclusive dealership arrangement will not be renewed because it’s no longer part of the national chain. Jack won’t be able to sell the products beyond April 2020. Jack wrote off the unamortized portion of the costs in 2019.
5. Jack purchased some heavy equipment for use in the lumberyard at an auction for $225,000. The equipment was fairly old and in poor condition and required $125,000 to get it in working condition. Jack’s management believes the equipment will be usable for at least 10 years. Jack capitalized the purchase price of the equipment and expensed the $125,000 as a repair cost.
6. In May 2019, Jack opened a large plumbing department. Because management had little expertise in plumbing but wanted to provide for customers’ plumbing needs, it contracted with SEH Plumbing Ltd. (SEH) to own and operate the plumbing department. SEH paid Jack a $200,000 non-refundable fee on July 15, 2019 and will pay 5 percent of net sales (sales after returns and bad debts) per year. SEH is getting the plumbing department ready for business. The contract between SEH and Jack is for 10 years. Jack capitalized the $200,000 fee as a long-term deposit and will recognize it as revenue over the term of the contract on a straight-line basis.

REQUIRED: Prepare a report to your CFO on your findings and recommendations regarding Jack.

QUESTION 11

In any given year, one in three Americans over the age of 65 will experience a fall.  If you have three living grandparents over the age of 65, and assuming that the probability of a fall for each grandparent is independent:

What is the probability that none of the three grandparents will experience a fall?  Provide your answer as a decimal between 0 and 1.

4 points   

QUESTION 12

What is the probability that one or more grandparents will experience a fall?  Provide your answer as a decimal between 0 and 1.

4 points   

QUESTION 13

Below are the data (n=100) from a randomized trial designed to evaluate the effectiveness of a newly developed pain reliever designed to reduce pain in patients following joint replacement surgery. The trial compared the new pain reliever to the pain reliever currently in use (called the standard of care).  The outcome of interest was reduction of pain rating (3 or more scale points are considered a clinically meaningful reduction).

What is the probability of experiencing a clinically meaningful reduction in pain given that the patient received the new pain reliever? (express this probability as a decimal between 0 and 1)

4 points   

QUESTION 14

What is the probability that a patient in this trial received the new pain reliever, given that they experienced a clinically meaningful reduction in pain? (express this probability as a decimal between 0 and 1)

Sue’s Flowers Revenue Business Process Project Sue Hernandez is the owner and operator of a small flower shop, Sue’s Flowers. She has decided to develop a database system to track her sales, inventory, accounts receivable and cash receipts. This system is used for large orders that are arranged in advance. However, she does not have time to do the development herself. Therefore, she has hired you to design and implement the system for her. She describes the requirements of her revenue system for processing wedding orders as follows: Whenever a customer comes in to place an order, a sales clerk enters a Sales Order directly into the computer system. The sales order lists all of the floral inventory items the customer wishes to purchase. The clerk then prints the sales order and gives a copy to the customer. If this is a new customer, before entering the sales document, the clerk must enter the customer's basic information such as name, address, etc. Additionally, credit for new customers must be approved by Sue.In addition to transaction information, Sue tracks history information for each customer, showing all of the flowers purchased by each customer, and quantities of each type. This allows her to target market specials to each customer, and more quickly assess each customer’s needs when they come into the shop.This information is updated automatically by the computer system when the goods are delivered to the customer.When Sue completes delivery of the sales order, an accounts receivable clerk records the delivery on a special screen. When delivery entry is completed, Sue prints the invoices and sends them to customers. When customers send in their payments, a sales clerk records the cash receipts on a special input screen. Sue takes the all of the cash receipts for a day and prepares a single deposit slip form and makes the deposit. Sue later enters the deposit information from the paper form into the computer.

Prepare an ER diagram describing Sue's database. (State any assumptions you believe you have to make in order to develop a complete diagram). Sue would like for you to consider that, eventually, as new stores are opened, she will have store managers in each store that will perform the tasks she now performs. As a result, the system should be planned to always store information about the employee associated with transactions, whether that employee enters information, performs a task (such as delivery) or formally authorizes the transaction.

Hints:

1. A particular sales order is always delivered and invoiced all at the same time. Deliveries include information for only one Sales Order.

2. A single cash receipt may pay for several deliveries. A single delivery may be paid for with several different cash receipts. List and describe all of the recording, maintenance and reporting information processes that are described in the narrative.