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Macy's, Inc., operates the two best-known high-end department store chains in North America: Macy's and Bloomingdales. The following data (in millions) were taken from its
Macy's, Inc., operates the two best-known high-end department store chains in North America: Macy's and Bloomingdales. The following data (in millions) were taken from its recent annual report for the year ended February 1 $17,010 1,032 485 Cost of sales Federal, state, and local income tax expense Interest expense Interest income Net sales Other operating expenses Selling, general, and administrative expenses 29.926 183 8,630 Required: Prepare a complete classified (multiple-step) consolildated statement of income for the company (showing gross margin, operating income, and income before income taxes)Enteryour answers in millions (i.e., 10,000,000 should be entered as 10).) Macy's, Ine. Consolidated Statement of Income millions)
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