1. Based on the information in the companys most recent annual report, determine each of the following:

   1. Gross profit for 2 most recent years reported.

   2. Gross profit rate (Gross profit Sales) for each of the years reported. Round to one decimal place.

   3. What was the Operating income for the 2 most recent years reported.

   4. Percentage change in operating income for the most recent year. Round to one decimal place.

   5. Net income for 2 most recent years reported.

   6. Percentage change in net income for the most recent year. Round to one decimal place.

2. Based solely on your responses to item 1 (Gross Profit, Operating Income and Net Income change in dollars and percentage), has the companys performance improved, remained constant, or deteriorated over the periods presented?

March 10, 2021 TARGET CORPORATION 2020 Form 10-K 34 FINANCIAL STATEMENTS Table of Contents Index to Financial Statements Consolidated Statements of Operations (millions, except per share data) Sales 2020 92,400 $ 1,161 93,561 66,177 18,615 2,230 6,539 977 16 5,546 1,178 2019 77,130 $ 982 78,112 54.864 16,233 2,357 4,658 477 (9) 4,190 921 3,269 12 3,281 $ 2018 74,433 923 75,356 53,299 15,723 2,224 4,110 461 (27) 3,676 746 2,930 Other revenue Total revenue Cost of sales Selling, general and administrative expenses Depreciation and amortization (exclusive of depreciation included in cost of sales) Operating income Net interest expense Net other (income) / expense Earnings from continuing operations before income taxes Provision for income taxes Net earnings from continuing operations Discontinued operations, net of tax Net earnings Basic earnings per share Continuing operations Discontinued operations Net earnings per share Diluted earnings per share Continuing operations Discontinued operations Net earnings per share Weighted average common shares outstanding Basic Diluted 4,368 4.368 S 2,937 $ 8.72 S 6.39 $ 0.02 6.42 $ 5.54 0.01 5.55 $ 8.72 S $ 8.64 S = 6.34 $ 0.02 6.36 $ 5.50 0.01 8.64 $ 5.51 510.9 500.6 505.4 528.6 533.2 515,6 Antidilutive shares Note: Per share amounts may not foot due to rounding. See accompanying Notes to Consolidated Financial Statements