Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with this question. Thank you. Consolidated Statements of Income for Macy's Inc., Feb. 03, 2018-Feb. 02, 2019 (in millions, except per share

image text in transcribed

image text in transcribedimage text in transcribedimage text in transcribed

I need help with this question. Thank you.

Consolidated Statements of Income for Macy's Inc., Feb. 03, 2018-Feb. 02, 2019 (in millions, except per share data) \begin{tabular}{|l|c|c} \hline & 2019 & 2018 \\ \hline Net sales & $24,971 & $24,939 \\ \hline Credit Card Revenues, Net & 768 & 702 \\ \hline Cost of Sales & (15,215) & (15,181) \\ \hline Selling, General, and Administrative Expenses & (9,039) & (8,954) \\ \hline Gains on Sale of Real Estate & 389 & 544 \\ \hline & & \\ \hline Restructuring, Impairment, Store Closing, and Other Costs & (136) & (186) \\ \hline Operating Income/Loss & 1,738 & 1,864 \\ \hline Benefit Plan Income & 39 & 57 \\ \hline Settlement Charges & (88) & (105) \\ \hline Interest Expense & (261) & (321) \\ \hline & & \\ \hline Gains (Losses) on Early Retirement of Debt & (33) & 10 \\ \hline Interest Income & 25 & 11 \\ \hline Income (loss) before Income Taxes & 1,420 & 1,516 \\ \hline Federal, State, and Local Income Tax Benefit (Expense) & (322) & 39 \\ \hline Net Income (Loss) & 1,098 & 1,555 \\ \hline Net Loss Attributed to Noncontrolling Interest & 10 & 11 \\ \hline Net Income Attributed to Macy's, Inc. Shareholders & $1,108 & $1,566 \\ \hline Basic Earnings per Share Attributable to Macy's, Inc. & $3.60 & $5.13 \\ \hline Shareholders & $3.56 & $5.10 \\ \hline Diluted Earnings per Share Attributable to Macy's, Inc. & & \\ \hline Shareholders & & \\ \hline \end{tabular} Consolidated Balance Sheets for Macy's Inc., Feb. 03, 2018-Feb. 02, 2019 (in millions, except per share data) \begin{tabular}{|l|c|c} \hline ASSETS & February 2, 2019 & February 3, 2018 \\ \hline Current Assets & & \\ \hline Cash and Cash Equivalents & $1,162 & $1,445 \\ \hline Receivables & 400 & 363 \\ \hline Merchandise Inventories & 5,263 & 5,178 \\ \hline Prepaid Expenses and Other Current Assets & 620 & 650 \\ \hline Total Current Assets & $7,445 & $7,646 \\ \hline Property and Equipment-Net & 6,637 & 6,672 \\ \hline Goodwill & 3,908 & 3,897 \\ \hline Other Intangible Assets-Net & 478 & 488 \\ \hline Other Assets & 726 & 880 \\ \hline Total Assets & 19,194 & 19,583 \\ \hline \end{tabular} LIABILITIES AND SHAREHOLDER EQUITY Current Liabilities \begin{tabular}{|l|c|c} \hline Short-Term Debt & $43 & $22 \\ \hline Merchandise Accounts Payable & 1,655 & 1,590 \\ \hline Accounts Payable and Accrued Liabilities & 3,366 & 3,271 \\ \hline Income Taxes & 68 & 296 \\ \hline Total Current Liabilities & 5,232 & 5,179 \\ \hline Long-Term Debt & 4,708 & 5,861 \\ \hline Deferred Income Taxes & 1,238 & 1,148 \\ \hline Other Liabilities & 1,580 & 1,662 \\ \hline Shareholders' Equity: & & \\ \hline Common Stock (307.5 and 304.8 shares outstanding) & 3 & 3 \\ \hline Additional Paid-In Capital & 652 & 676 \\ \hline Accumulated Equity & 8,050 & 7,246 \\ \hline Treasury Stock & (1,318) & (1,456) \\ \hline Accumulated Other Comprehensive Loss & (951) & (724) \\ \hline Total Macy's Inc. Shareholders' Equity & 6,436 & 5,745 \\ \hline Noncontrolling Interest & 0 & (12) \\ \hline Total Shareholder Equity & $6,436 & $5,733 \\ \hline Total Liabilities and Shareholder Equity & $19,194 & $19,583 \\ \hline \end{tabular} Source: Macy's Inc., 2018 10-K. Note: Developed with Meredith Peabody Using the formulas in the Appendix and Macy's Inc., financial statements below, calculate the following measures of financial performance. Be sure to report items (a) through in percentages (i.e., multiply your result x100 and round to the nearest +/0.1% ) a. Gross profit margin. b. Operating profit margin. c. Net profit margin. d. Return on shareholders' equity. e. Net Return on assets. f. Times-interest-earned (or coverage) ratio. g. Debt-to-equity ratio. h. Days of inventory. i. Inventory turnover ratio. j. Average collection period

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

No Nonsense Project Auditing A Practical Guide For The PMO

Authors: Lisa Nash

1st Edition

0993403522, 978-0993403521

More Books

Students also viewed these Accounting questions