Review the multiple-step income statements that you have completed From the annual report of Target corporation and Amazon .com for the year ended 2017 and evaluate the information. If you had to decide which company was more successful using only the multiple-step income statement you created, which one would you be more likely to invest in and why?

Target Income Statement

	2017 (a)	2016	2015	2014	2013
FINANCIAL RESULTS: (in millions)
Sales (b)	$71,879	$69,495	$73,785	$72,618	$71,279
Cost of sales (c)	51,125	49,145	52,241	51,506	50,243
Gross margin	20,754	20,350	21,544	21,112	21,036
Selling, general and administrative expenses (SG&A)	14,248	13,356	14,665	14,676	14,465
Depreciation and amortization (exclusive of depreciation included on cost of sales) (c)	2,194	2,025	1,969	1,901	1,792
Gain on sale (d)			(620)		(391)
Earnings from continuing operations before interest expense and income taxes (EBIT)	4,312	4,969	5,530	4,535	5,170
Net interest expense (e)	666	1,004	607	882	1,049
Earnings from continuing operations before income taxes	3,646	3,965	4,923	3,653	4,121
Provision for income taxes (f)	718	1,296	1,602	1,204	1,427
Net earnings from continuing operations	2,928	2,669	3,321	2,449	2,694
Discontinued operations, net of tax	6	68	42	(4,085)	(723)
Net earnings / (loss)	$2,934	$2,737	$3,363	$(1,636)	$1,971
PER SHARE:
BASIC EARNINGS / (LOSS) PER SHARE
Continuing operations	$5.35	$4.62	$5.29	$3.86	$4.24
Discontinued operations	0.01	0.12	0.07	(6.44)	(1.14)
Net earnings / (loss) per share	$5.36	$4.74	$5.35	$(2.58)	$3.10
DILUTED EARNINGS / (LOSS) PER SHARE
Continuing operations	$5.32	$4.58	$5.25	$3.83	$4.20
Discontinued operations	0.01	0.12	0.07	(6.38)	(1.13)
Net earnings / (loss) per share	$5.33	$4.70	$5.31	$(2.56)	$3.07
Cash dividends declared	$2.46	$2.36	$2.20	$1.99	$1.65
FINANCIAL POSITION: (in millions)
Total assets	$38,999	$37,431	$40,262	$41,172	$44,325
Capital expenditures (g)	$2,533	$1,547	$1,438	$1,786	$1,886
Long-term debt, including current portion (g)	$11,587	$12,749	$12,760	$12,725	$12,494
Net debt (g)(h)	$10,456	$11,639	$9,752	$11,205	$12,491
Shareholders' investment	$11,709	$10,953	$12,957	$13,997	$16,231
SEGMENT FINANCIAL RATIOS: (i)
Comparable sales growth (j)	1.3%	(0.5)%	2.1%	1.3%	(0.4)%
Gross margin (% of sales) (c)	28.9%	29.3%	29.2%	29.1%	29.5%
SG&A (% of sales)	19.8%	19.2%	19.6%	20.0%	20.2%
EBIT margin (% of sales)	6.0%	7.1%	6.9%	6.5%	6.8%
OTHER:
Common shares outstanding (in millions)	541.7	556.2	602.2	640.2	632.9
Operating cash flow provided by continuing operations (in millions)	$6,849	$5,329	$5,254	$5,157	$7,572
Sales per square foot (g)(k)	$295	$290	$307	$302	$298
Retail square feet (in thousands) (g)	239,355	239,502	239,539	239,963	240,054
Square footage growth (g)	(0.1)%	%	(0.2)%	%	0.9%
Total number of stores (g)	1,822	1,802	1,792	1,790	1,793
Total number of distribution centers (g)	41	40	40	38	37

Amazon Income Statement

	12 months ended	Dec 31, 2019		Dec 31, 2018		Dec 31, 2017		Dec 31, 2016		Dec 31, 2015
	Net product sales	160,408		141,915		118,573		94,665		79,268
	Net services sales	120,114		90,972		59,293		41,322		27,738
	Net sales	280,522		232,887		177,866		135,987		107,006
	Cost of sales	(165,536)		(139,156)		(111,934)		(88,265)		(71,651)
	Gross profit	114,986		93,731		65,932		47,722		35,355
	Fulfillment	(40,232)		(34,027)		(25,249)		(17,619)		(13,410)
	Technology and content	(35,931)		(28,837)		(22,620)		(16,085)		(12,540)
	Marketing	(18,878)		(13,814)		(10,069)		(7,233)		(5,254)
	General and administrative	(5,203)		(4,336)		(3,674)		(2,432)		(1,747)
	Other operating expense, net	(201)		(296)		(214)		(167)		(171)
	Operating income	14,541		12,421		4,106		4,186		2,233
	Interest income	832		440		202		100		50
	Interest expense	(1,600)		(1,417)		(848)		(484)		(459)
	Other income (expense), net	203		(183)		346		90		(256)
	Non-operating income (expense)	(565)		(1,160)		(300)		(294)		(665)
	Income before income taxes	13,976		11,261		3,806		3,892		1,568
	Provision for income taxes	(2,374)		(1,197)		(769)		(1,425)		(950)
	Equity-method investment activity, net of tax	(14)		9		(4)		(96)		(22)
	Net income	11,588		10,073		3,033