Analyze Target

The following data (in millions) are taken from the financial statements of Target Corporation (TGT), the owner of Target stores:

Line Item Description	Year 2	Year 1
Revenue	$75,356	$72,714
Operating expenses	(71,246)	(68,490)
Operating income	$4,110	$4,224

a. For Target, determine the amount of change in millions and the percent of change from Year 1 to Year 2 for. Round percentages to one decimal place.

Line Item Description	Amount in million	Percentage
1. Revenue	fill in the blank 1	fill in the blank 2%
2. Operating expenses	fill in the blank 3	fill in the blank 4%
3. Operating income	fill in the blank 5	fill in the blank 6%

b. The revenue fill in the blank 1 of 3

decreasedincreased

between the two years, while the operating expenses grew. Thus, expenses grew fill in the blank 2 of 3

lessmore

than revenues. As a result, operating income fill in the blank 3 of 3

decreasedincreased

in Year 2.