Question
Refer to Macy's 2018 and 2019 financial statements and the accompanying notes to answer the following questions. a. What alternative formats could Macy's have adopted
Refer to Macy's 2018 and 2019 financial statements and the accompanying notes to answer the following questions.
a. What alternative formats could Macy's have adopted for its statement of financial position? Which format did it adopt?
b. How much working capital did Macy's have on March 30, 2019? On March 31, 2018?
c. What were Macy's cash flows from its operating, investing, and financing activities for 2019? What were its trends in net cash provided by operating activities over the period 2018 to 2019? Explain why the increase in accounts payable and in accrued and other liabilities is added to net income to arrive at net cash provided by operating activities.
d. Compute: (1) current cash debt coverage, (2) cash debt coverage, and (3) free cash flow for 2019. What do these ratios indicate about Macy's financial conditions?
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