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Required information [The following information applies to the questions displayed below. The following is a portion of the balance sheets of Macy's, Inc for the
Required information [The following information applies to the questions displayed below. The following is a portion of the balance sheets of Macy's, Inc for the years ended January 28, 2017 and January 30, 2010 January January 28, 2017 30, 2016 (Millions) LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Short-tern debt $ 309 $ 642 Merchandise accounts payable 1,423 Accounts payable and accrued liabilities 1,526 3,553 3,333 Income taxes 227 Total Current Liabilities 5,647 Long-Tern debt 6,562 6,905 Deferred Income Taxes 1,477 Other Liabilities 1,877 Shareholders' Equity Common stock (310.3 and 340.6 shares outstanding) Additional paid.in capital 617 621 Accumulated equity 6,08 6,334 Treasury stock (1,480 (1,685 Accumulated other comprehensive loss (896 (1,043 Total Macy's, Inc. Shareholders' Equity Noncontrolling interest (1) Total Shareholders' Equity 4, 322 4,253 Total Liabilities and Shareholders' Equity $19, 851 Required: 1. What Is Macy's debt to equity ratio for the year ended January 28, 20172(Round your answer to 2 decimal places.) 2-a. What would be Macy's debt to equity ratio if we excluded deferred taxilabilities from its calculation (Round your answer to 2 decimal places.) 2-b. What would be the percentage change? Answer is complete but not entirely correct. 2 Debt to quity ratio Revised debt to equity ratio Percentage change 2 $ 2.16 IS 2.82 11 %
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