Obtain Target Corporation’s annual report for its 2018 fiscal year (year ended February 2, 2019) at http:// investors.target.com using the instructions in Appendix B, and use it to answer the following questions:

a. What was Target’s gross margin percentage for the fiscal year ended February 2, 2019 (2018) and 2017? Use “Sales” for these computations.

b. What was Target’s return on sales percentage for 2018 and 2017? Use “Total revenues” for these computations.

c. Target’s return on sales percentage for 2017 was higher than it was in 2018. Ignoring taxes, how much higher would Target’s 2018 net income have been if its return on sales percentage in 2018 had been the same as for 2017?