Horizontal analysis of income statement
The following data (in millions) are taken from the financial statements of Target
| Recent Year | Prior Year | |
| Revenue | $67,390 | $65,357 |
| Operating expenses | 62,138 | 60,684 |
| Operating income | $ 5,252 | $ 4,673 |
a. For Target Corporation, determine the amount of change in millions and the percent of change (round to one decimal
place) from the prior year to the recent year for:
1. Revenue
2. Operating expenses
3. Operating income
a. What conclusions can you draw from your analysis of the revenue and the total operating expenses?
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