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Marcy's, Inc., operates two well-known high-end department store chains in North America. Marcy's and Bloomingdale's. The following Simplified data (in millions) were taken from its
Marcy's, Inc., operates two well-known high-end department store chains in North America. Marcy's and Bloomingdale's. The following Simplified data (in millions) were taken from its recent annual report for the year ended February 1: $ 15,636 353 Cost of sales Federal, state, and local income tax expense Interest expense Interest income 372 5 Net sales 25,883 582 Other operating expenses Selling, general, and administrative expenses 8,275 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).) MARCY'S, INC. Consolidated Statement of Income (in millions)
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