The following data (in millions) are taken from the financial statements of Target Corporation: Recent Year Prior Year Revenue $72,618 $71,279 Operating expenses 68,083 66,109 Operating income $ 4,535 $ 5,170 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: Revenue

Amount of change in millions (Revenue) = $1,339 (Increase)

Percent of change = 0.08178 = 1.88 % (Approx)

Explanation:

Given:

Current Previous

Revenue $72,618 $71,279

Find:

Amount of change in millions = ?

Percent of change = ?

Computation:

⇒ Amount of change in millions (Revenue) = Current year revenue - Previous year revenue

⇒ Amount of change in millions (Revenue) = $72,618 - $71,279

⇒ Amount of change in millions (Revenue) = $1,339 (Increase)

⇒ Percent of change = Amount of change in millions (Revenue) / Previous year revenue

⇒ Percent of change = $1,339 / $71,279

⇒ Percent of change = 0.08178 = 1.88 % (Approx)