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Common-Size Income Statements Following is the income statement for Target Corporation. Prepare Target's common-size income statement for the fiscal year ended January 31, 2015. Fiscal
Common-Size Income Statements Following is the income statement for Target Corporation. Prepare Target's common-size income statement for the fiscal year ended January 31, 2015. Fiscal year ended ($ millions) January 31, 2015 Sales revenue $72,618 Cost of sales 51,278 Selling, general and administrative expenses 14,676 Depreciation and amortization 2,129 Earnings from continuing operations before interest and income taxes 4,535 Net interest expense 882 Earnings from continuing operations before income taxes 3,653 Provision for income taxes 1,204 Net earnings from continuing operations 2,449 Discontinued operations, net of tax (4,085) Net earnings (loss) $(1,636) 96 Note: Round your answers to one decimal place (ex: 0.0715 = 7.2%). TARGET CORPORATION Common-Size Income Statement Year ended: January 31, 2015 Sales revenue Cost of sales % Selling, general and administrative expenses % Depreciation and amortization Earnings from continuing operations before interest expense and income taxes % Net interest expense % Earnings from continuing operations before income taxes Provision for income taxes % Net earnings from continuing operations Discontinued operations, net of tax Net earnings (loss) % % % % %
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