TJX Companies Inc. Common Size Income Statement	12 Months Ended-in thousands $			Percentages
	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Net sales	$ 32,136,962	$ 41,716,977	$ 38,972,934	100.00%	100.00%	100.00%
Cost of sales, including buying and occupancy costs	24,533,815	29,845,780	27,831,177	76.34%	71.54%	71.41%
Gross Profit	7,603,147	11,871,197	11,141,757	23.66%	28.46%	28.59%
Selling, general and administrative expenses	7,020,917	7,454,988	6,923,564	21.85%	17.87%	17.77%
Operating Income	582,230	4,416,209	4,218,193	1.81%	10.59%	10.82%
Loss on early extinguishment of debt	312,233	0	0	0.97%	0.00%	0.00%
Interest expense, net	180,734	10,026	8,860	0.56%	0.02%	0.02%
Pension settlement charge	0	0	36,122	0.00%	0.00%	0.09%
Income before income taxes	89,263	4,406,183	4,173,211	0.28%	10.56%	10.71%
Benefit (provision) for income taxes	1,207	(1,133,990)	(1,113,413)	0.00%	-2.72%	-2.86%
Net income	$ 90,470	$ 3,272,193	$ 3,059,798	0.28%	7.84%	7.85%

a. Review the vertical analyses and provide two major differences over the three years and discuss patterns that emerge ? You should be focusing on specific accounts and not subtotals or totals.

b. What are the company's two largest major expenses for the current year?

c. Discuss the fluctuations in interest expense and income taxes. What are the cause of these changes? You need to provide specific causes for the applicable company that relates specifically to the interest expense and income taxes.

d. Was the company more or less profitable when compared to the prior year? Using the specific income statement ratios or amounts, explain what caused the change in income from the prior year.