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Marcy's, Incorporated, operates the two best-known high-end department store chains in North America: Marcy's and Bloomington's. The following simplified data (in millions) were taken from

Marcy's, Incorporated, operates the two best-known high-end department store chains in North America: Marcy's and Bloomington's. The following simplified data (in millions) were taken from its recent annual report for the year ended February 1:

Cost of sales $ 15,396
Federal, state, and local income tax expense 344
Interest expense 280
Interest income 35
Net sales 26,906
Other operating expenses 324
Selling, general, and administrative expenses 9,148

Required:

Prepare a complete classified (multiple-step) consolidated statement of income. (showing gross margin, operating income, and income before income taxes).

Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

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