Question: By how much did retained earnings increase/decrease in the most recent year compared to the previous year? (b) Target reduces retained earnings for Dividends declared

By how much did retained earnings increase/decrease in the most recent year compared to the previous year?\ (b) Target reduces retained earnings for Dividends declared and Repurchase of stock. These two amounts totaled $2,865 million in the most recent year. Using this amount and your answer in (a), compute Target's net income. Verify your answer by finding net income (labeled Net earnings) in the income statement.

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