Question
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
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 | |||
Cost of sales, including buying and occupancy costs | 24,533,815 | 29,845,780 | 27,831,177 | |||
Gross Profit | 7,603,147 | 11,871,197 | 11,141,757 | |||
Selling, general and administrative expenses | 7,020,917 | 7,454,988 | 6,923,564 | |||
Operating Income | 582,230 | 4,416,209 | 4,218,193 | |||
Loss on early extinguishment of debt | 312,233 | 0 | 0 | |||
Interest expense, net | 180,734 | 10,026 | 8,860 | |||
Pension settlement charge | 0 | 0 | 36,122 | |||
Income before income taxes | 89,263 | 4,406,183 | 4,173,211 | |||
Benefit (provision) for income taxes | 1,207 | (1,133,990) | (1,113,413) | |||
Net income | $ 90,470 | $ 3,272,193 | $ 3,059,798 |
Need the percentages answered along with the following questions below
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 causes 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 year prior.
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