Macy's reported the following results in its 2008 10- K:

Requirements
1. Calculate the following ratios for the most recent fiscal year:
a. Current ratio
b. Accounts receivable turnover ratio (Uses total sales in the numerator.)
c. Debt- to- equity ratio
d. Return on assets
e. Return on equity
2. Comment on the results of your analysis.

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Macy's, Ine. Consolidated Balance Sheets January 31, bruary 2 2009 2009 ASSETS Cument Assets: 1306 439 583 463 5,060 218 6,324 10,991 9,133 831 510 Recelvables..._ Supplies and prepald expenses 226 Total Cuent Assets... Property and Equipment-net 10,442 Goodwill 3,743 Other Intangible Assets net.... Other Assets.. 6,740 501 Total Assets $22145 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: $ 966 666 1,308 Short-term debt Merchandise accounts payable Accounts payable and accrued ltablities .. Income taxesC 2,629 29 344 223 0,087 1,446 1989 Deferred Income Taxes*..1,119 Shareholders' Equity Common stock (420,1 and 419.7 shares outstanding)... Additional paid-in capttal 5,663 5,609 Treasury stock. Aceumulated other comprehenstve loss.... 7,032 (2,544 2,557) 182) (486) 4,646 Total Liabilities and Shareholders' Equity..2,145 27,789 Macy's, Inc. consoltdated Stateans of Operations imillions, except per share dstai 2008 2007 Net sales . 26,970 串24.802 (15,009 26,313 16,019) Inventory valuation adjustments- May Integration.. Gross margin. Selling, general and administrative expenses Division consolidation costs and store closing related costs . . . . 9,883 (8,481) (187) 211) ...(6,382) 10,636 (8,554) 10,773 8,678) (219) (450) 191 1,836 (451) 61 1,446 Gains on the sale of accounts recetvable . ........._..... Operating income (loss) ...(4,378) (688) 28 (4,938) 135 C4,803) 1,863 (579) 36 1,320 411) 909 Income (loss) from continuing operations before income taxes.... Federal, state and local income tax beneft (expense) ·······.. Discontinued operations, net of income taxes . . . . . . .. . . . . . . . Baste earnings (loss) per share: 988 $ (4,803) S03 Income (loss) from continuing operations (11.40) Income doss) from discontinued operations Net income doss)on(1140 $ 2.04 串 1.83 01 Diluted earnings (Goss) per share Ineome doss) from continuing operations.(11402.01$180 Income (loss) from discontinued operations... Net income (loss) 11.40) C04 01 ー -