Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help calculating the operating expense from this spreadsheet. The numbers I keep coming up with don't make sense. Any help would be appreciated!

I need help calculating the operating expense from this spreadsheet. The numbers I keep coming up with don't make sense. Any help would be appreciated!

Consolidated Statements of Operations - USD ($) $ in Millions 12 Months Ended
Jan. 30, 2021 Feb. 01, 2020 Feb. 02, 2019
Income Statement [Abstract]
Net sales $ 17,346 $ 24,560 $ 24,971
Credit card revenues, net 751 771 768
Cost of sales (12,286) (15,171) (15,215)
Selling, general and administrative expenses (6,767) (8,998) (9,039)
Gains on sale of real estate 60 162 389
Restructuring, impairment, store closing and other costs (3,579) (354) (136)
Operating income (loss) (4,475) 970 1,738
Benefit plan income, net 54 31 39
Settlement charges (84) (58) (88)
Interest expense (284) (205) (261)
Financing costs (5) 0 0
Losses on early retirement of debt 0 (30) (33)
Interest income 4 20 25
Income (loss) before income taxes (4,790) 728 1,420
Federal, state and local income tax benefit (expense) 846 (164) (322)
Net income (loss) (3,944) 564 1,098
Net loss attributable to noncontrolling interest 0 0 10
Net income (loss) attributable to Macy's, Inc. shareholders $ (3,944) $ 564 $ 1,108
Basic earnings (loss) per share attributable to Macy's, Inc. shareholders $ (12.68) $ 1.82 $ 3.60
Diluted earnings (loss) per share attributable to Macy's, Inc. shareholders $ (12.68) $ 1.81 $ 3.56

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Creative Accounting, Fraud And International Accounting Scandals

Authors: Michael J. Jones

1st Edition

0470057653, 9780470057650

More Books

Students also viewed these Accounting questions