Horizontal Analysis of Income Statement The following data (in millions) were taken from the financial statements of Target Corporation: Recent Year Prior Year Revenue $72,714 $75,356 71,246 Operating expenses 68,490 Operating income $4,110 $4,224 a. For Target Corporation, determine the amount of change in millions and the percent of change from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income For those boxes in which you must enter negative numbers use a minus sign. Round percentage answers to one decimal place.) Amount of Change Percent of Change (in millions) (round to 1 decimal place) Increase or Decrease 1. Revenue X X % Increase 2. Operating expenses Increase 3. Operating income Decrease b. During the recent year, revenue increased and operating expenses increased As a result, operating income decreased from the prior year