Is this analysis correct? if not, what is wrong? Thank you.

The question was:

1.Provide common-size analysis of your company's income statement and balance sheet for the 2 most recent years (must be done using Excel with formulas).

Macy's , INC Consolidated Balance Sheets (in millions of U.S. dollars) Common Size Analysis Horizontal Analysis January 30, 2021 February 1, 2020 2021 2020 $ Change Change ASSETS Current Assets: Cash and cash equivalents 1,679 $ 685 9.48%% 3.24% $ 994 145.11% Receivables 276 409 1.56%% 1.93% (133) -32.52% Merchandise inventories 3,774 5,188 21.31% 24.50% (1,414) -27.26% Prepaid expenses and other current assets 455 528 2.57% 2.49% (73) -13.83% Total current assets 6,184 6,810 34.93% 32.17% (626 9.19% Property and Equipment - net 5,940 6,633 33.55%% 31.33% (693) -10.45%% Right of Use Assets 2,878 2,668 16.25% 12.60% 210 7.87% Goodwill 828 3,908 4.68% 18.46% (3,080) -78.81% Other Intangible Assets, net 437 139 2.47% 2.07% (2) 0.46% Other assets 1,439 714 8.13% 3.37% 725 101.54 TOTAL ASSETS 17,706 $ 21,172 100.00% 100.00% $ 3,466 16.37% LIABILITIES AND SHAREHOLDER'S EQUITY Current Liabilities: Short-term debt 452 5 539 2.55% 2.55% $ (87) -16.14% Merchandise accounts payable 1,978 1,682 11.17% 7.94%% 296 17.60% Accounts payable and accrued liabilities 2,927 3,448 16.53% 16.29%% (521) -15.11% Income taxes 81 0.00% 0.38%% (81) -100.00% Total current liabilities 5,357 5,750 30.26%% 27.16% (393) 6.83% Long-Term Debt 4,407 3,621 24.89% 17.10 786 21.71% Long-Term Lease Liabilities 3,185 2,918 17.99% 13.78% 267 9.15 Deferred Income Taxes 908 1,169 5.13% 5.52% (261) -22.33%% Other liabilities 1,296 1,337 7.32% 6.31% (41) -3.07% Shareholder's Equity: Common stock (310.5 and 309.0 shares outstanding 3 3 0.02% 0.01% Additional paid-in capital 571 521 3.22% 2.93% (50) -8.05% Accumulated equity 3,928 7,989 22.18%% 37.73% (4,061) -50.83% Treasury stock (1,161) (1,241) -6.56% -5.86% 80 -6.45% Accumulated other comprehensive loss 788) 995) 4.45% 4.70% 207 -20.80% TOTAL EQUITY 2,553 5,377 14.42% 30.12% 3,824 -59.97% TOTAL LIABILITIES AND EQUITY 17,706 21,172 100.00% 100.00% 3,466) -16.37% Source: 10-K, page 36]\f