Following are the income statements and balance sheets of Macy's, Inc. a. Forecast Macy's fiscal 2014 income

Question:

Following are the income statements and balance sheets of Macy's, Inc.image text in transcribedimage text in transcribedimage text in transcribed

a. Forecast Macy's fiscal 2014 income statement and balance sheet using the following relations ( \(\$\) in millions). Assume that all capital expenditures are purchases of property and equipment.image text in transcribed

b. What does the forecasted adjustment to balance the accounting equation from part \(a\) reveal to us about the forecasted financing needs of the company? Explain.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: