1. Calculate the projected profit margins for 2019, 2020 and 2021 based on the forecast earnings growth chart.

2. Show the calculation formulas in the cells of the spreadsheet.

		Financial history and projected financial performance for Nordstrom, Inc beginning in 2017 through 2021
			Fiscal year beginning February through January end-of-month the following year
Period Ending:					2017 (Feb 16-Jan 17)	2018 (Feb 17-Jan 18)	2019 (Feb 18-Jan 19)	2020 (Feb 19-Jan 20)	2021 (Feb 20-Jan 21)
REVENUE (in millions)					$14,757	$15,273
EXPENSES (in millions)					($9,440)	($9,880)
CALCULATED PROFIT (in millions)					$5,317	$5,393
PROFIT MARGINS					36.03%	36.31%
PROJECTED REVENUE (in millions)					n/a	n/a	$15,808	$16,361	$16,934
PROJECTED EXPENSES (in millions)					n/a	n/a	($10,005)	($10,471)	($10,787)
PROJECTED PROFIT					n/a	n/a	$5,803	$5,890	$6,147
PROJECTED PROFIT MARGINS					n/a	n/a

Forecast Earnings Growth 25 21.69 % 20 15 10 6.00 % 5.17 % 3.61 % 0.00 % Jan 2019 Jan 2020 Jan 2021 Jan 2022 Long Term 5 yr