Business Applications Case Understanding real-world annual reports:

Use the Target Corporation's annual report in Appendix B to answer the following questions:

1) What was Target's gross margin percentage for the fiscal year ended January 28, 2017 (2016) and 2015?

2) What was Target's return on sales percentage for 2016 and 2015?

3) Target's return on sales percentage for 2016 was lower than it was in 2015. Ignoring taxes, how much higher would Target's 2016 net income have been if its return on sales percentage in 2016 has been the same as for 2015?