Use this template to answer the requirements in the order below.Use the 10-K Document from the SEC EDGAR database for each company to answer the following questions for each company. You can use direct references from the reports, but you must explain or comment in your own words.The author of the text uses the reference of footnotes to the financial statements.Many companies use the terminology notes to the financial statement, which is a synonymous term to footnotes to the financial statements.It is important for you to understand that the notes to the financial statements are an integral part of the audited financial statements.Do not ignore the notes to the financial statements in your analysis.

The GAP, Inc. (GPS) for year ended January 30, 2021 Direct link to 10-Khttps://www.sec.gov/ix?doc=/Archives/edgar/data/39911/000003991121000021/gps-20210130.htm

The TJX Companies, Inc. (TJX) for year ended January 30, 2021 Direct link to 10-Khttps://www.sec.gov/ix?doc=/Archives/edgar/data/109198/000010919821000006/tjx-20210130.htm

Requirements:The questions are in bolded black font.Please respond below each question.

1.Examine revenue and related accounts.Revenue is the largest item on the income statement, so we need to assess it on a quantitative and qualitative basis.

a. Read the management's discussion and analysis (MD&A) section of the 10-Ks, which is found in Item 7 of the table of contents.Explain how the companies' senior managers explain net sales or revenue in the most recent fiscal year.Provide the page number(s) you are using from the 10-K as your reference to this question.Also, discuss at least two other items of interest discussed in the MD&A.

b. Find the footnote or notes to the financial statements on sales revenue recognition and gift card revenue recognition policy if applicable.Provide the page number of the note for each company and how the company recognizes revenue.Also, in your response compare the revenue recognition to each other.Remember that the notes to the financial statements are an integral part of the financial statements, so are part of Item 8 and follow the audited financial statements.

c. Find the footnote or notes to the financial statements on the operations of the business and segment information.Provide a summary of what the company considers their business and segments. Include a discussion of why segment information is important information. Provide the page number you found this information.Remember that the notes to the financial statements are an integral part of the financial statements, so are part of Item 8 and follow the audited financial statements.