Macy s Inc headquartered in both Cincinnati and New York operates
Macy’s, Inc., headquartered in both Cincinnati and New York, operates more than 840 stores in 45 states under the Macy’s and Bloomingdale’s names. Its balance sheet on October 29, 2011, contained the following items ($ in millions):
Long-term debt .............. $6,151
Cash ................... ?
Total liabilities ............... ?
Shareholders’ equity ............ ?
Inventories ............... 7,158
Merchandise accounts payable ........ 3,576
Property, plant, and equipment ........ 8,423
Other assets ................ 5,585
Other liabilities ............... 6,684
Total assets ............... 22,263
Prepare a condensed balance sheet, including amounts for
1. Cash. What do you think of its relative size?
2. Total Liabilities.
3. Shareholders’ Equity.

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