Consolidated Statements of Income for Macy\'s, Inc., 2011-2012 (in millions, exc

Question

Consolidated Statements of Income for Macy's, Inc., 2011-2012 (in millions, except per share data) 2012 2011 Net sales Cost of sales Gross margin Selling, general, and administrative expenses Impairments, store closing costs and gain on sale of leases Operating income Interest expense Premium on early retirement of debt Interest income Income before income taxes Federal, state, and local income tax expense Net income Basic earnings per share Diluted earnings per share $ 27686 (16538) 11,148 (8,482) (5) 2,661 (425) S 26405 (15,738) 10,667 (8,281) 25 2,411 (447) (137) 2,102 (767) 1,335 $ 3.29 $ 3.24 1,968 (712) 1,256 $ 2.96 $ 2.92

Explanation / Answer

Solution:

1 Sales growth ratio = Sales of 2012 - Sales of 2011 / Sales of 2011 * 100 Sales growth ratio = 4.85% Sales of 2012 27686 Sales of 2011 26405 Increase in sale 1281 2012 2011 2 Gross Margins = Gross margin / Net sales Gross margins 11148 10667 Net sales 27686 26405 Gross margin ratio 40.27% 40.40% 3 2012 2011 Operating Margins = Operating margin / Net sales Operating margins 2661 2411 Net sales 27686 26405 Gross margin ratio 9.61% 9.13% 4 2012 2011 Net Income ratio = Net Income / Sales Net Income 1335 1256 Net sales 27686 26405 Net income ratio 4.82% 4.76% Net Income Growth ratio = Net income of 2012 - Net Income of 2011 / Net income of 2011 * 100 Net income of 2012 1335 Net income of 2011 1256 Increase in net income 79 Net income growth ratio = 5.92%

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