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Cost of sales Federal, state, and local income tax expense Interest expense Interest income Net sales Other operating expenses Selling, general, and administrative expenses $

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Cost of sales Federal, state, and local income tax expense Interest expense Interest income Net sales Other operating expenses Selling, general, and administrative expenses $ 16,725 804 390 2 27,931 88 8,440 Required: Prepare a complete classified (multiple-step) consolidated statement of income for the company (showing gross margin, operating income, and income before income taxes). (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Macy's, Inc. Consolidated Statement of Income (in millions)

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