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The following is a portion of the balance sheets of Macy's, Incorporated, for the years ended February 1 , 2 0 2 0 , and

The following is a portion of the balance sheets of Macy's, Incorporated, for the years ended February 1,2020, and February 2,2019:
February 1,2020 February 2,2019
(Millions)
Liabilities and Shareholders Equity
Current Liabilities:
Short-term debt $ 539 $ 43
Merchandise accounts payable 1,6821,655
Accounts payable and accrued liabilities 3,4483,366
Income taxes 81168
Total Current Liabilities 5,7505,232
Long-Term debt 3,6214,708
Long-Term Lease Liabilities 2,918
Deferred Income Taxes 1,1691,238
Other Liabilities 1,3371,580
Shareholders Equity:
Common stock 33
Additional paid-in capital 621652
Accumulated equity 7,9898,050
Treasury stock (1,241)(1,318)
Accumulated other comprehensive loss (995)(951)
Total Shareholders Equity 6,3776,436
Total Liabilities and Shareholders Equity $ 21,172 $ 19,194
Required:
1. What is Macy's debt to equity ratio for the year ended February 1,2020?
Note: Round your answer to 2 decimal places.
2-a. What would be Macys debt to equity ratio if we excluded long-term net deferred tax liabilities from its calculation?
Note: Round your answer to 2 decimal places.
2-b. What would be the percentage change?
Note: Round your answer to the nearest whole percent.

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