Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet

Question

Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of Macy's, Inc. Consolidated Statement of Income Fiscal Years Ended (S millions) February 2, 2013 January 28, 2012 January 29 2011 Net sales Cost of goods sold Gross margin Selling, general and administrative expenses Impairments, store closing costs and (gain) on sale of leases Operating income $27,686 26,405 25,003 14,824 10,179 8,260 25 1,894 513 16,538 11,148 8,482 15,738 10,667 8,281 (25) 2,411 447 2,661 425 137 Interest expense Premuim on early retirement debt 4 Interest income 2,102 767 $1,335 1,968 712 $1,256 1,320 473 $ 847 Income before income taxes Federal, state and local income tax expense Net Income

Explanation / Answer

Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet

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