Historical Balance Sheets and Income Statements o Pull the latest balance sheet and income statement from...
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Historical Balance Sheets and Income Statements o Pull the latest balance sheet and income statement from the 10-K annual report from SEC Edgar. • Horizontal and Vertical Analysis o Perform horizontal and vertical analysis on the balance sheet and income statement for the current year. • Ratio Analysis o Perform ratio analysis on your company, selecting at least 2 ratios from each basic category: liquidity, solvency, efficiency, and profitability. Compare with your company's prior year ratios and industry average ratios (https://www.readyratios.com/sec/industry/). • Understand and Explain Analysis Results o From the horizontal analysis, select at least 2 large or interesting changes (based on amount or percentage). I suggest line items such as revenue or cost of sales. o Using the Management Discussion and Analysis (MD&A) section of the annual report (as well as other sources such as news articles), explain why those line items changed over time. You may need to dig deeper into the numbers (for instance breaking down revenue into company segments or regions), show any work you do. • Projected Financial Statements o Project the balance sheet and income statements for 1 year into the future. Explain your assumptions for your projection. I suggest using outside reputable sources such as news articles and stock analysts' reports to build your assumptions. Current Assets: Property and Equipment - net Right of Use Assets Goodwill Cash and cash equivalents Receivables Merchandise inventories Prepaid expenses and other current assets Total Current Assets Other Intangible Assets-net Other Assets Total Assets MACY'S, INC. CONSOLIDATED BALANCE SHEETS ASSETS Total Current Liabilities LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Short-term debt Merchandise accounts payable Accounts payable and accrued liabilities Income taxes Long-Term Debt Long-Term Lease Liabilities Deferred Income Taxes Other Liabilities (millions) Shareholders' Equity: Common stock (310.5 and 309.0 shares outstanding) Additional paid-in capital Accumulated equity Treasury stock Accumulated other comprehensive loss Total Shareholders' Equity Total Liabilities and Shareholders' Equity January 30, 2021 F-8 S S 1,679 276 3,774 455 6,184 5,940 2,878 828 437 1,439 17,706 1,978 2,927 452 S 5,357 4,407 3,185 908 1,296 3 571 3,928 (1,161) (788) February 1, 2020 2,553 S 17,706 S The accompanying notes are an integral part of these Consolidated Financial Statements. 685 409 5,188 528 6,810 6,633 2,668 3,908 439 714 21,172 539 1,682 3,448 81 5,750 3,621 2,918 1,169 1,337 3 621 7,989 (1,241) (995) 6,377 21,172 MACY'S, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (millions) Net income (loss) Other comprehensive income (loss), net of taxes: Net actuarial gain (loss) and prior service credit on post employment and postretirement benefit plans, net of tax effect of $37 million, $36 million and $52 million Reclassifications to net income (loss): Net actuarial loss and prior service cost on post employment and postretirement benefit plans, net of tax effect of $12 million, 58 million and $7 million Settlement charges, net of tax effect of $22 million, $14 million and $23 million Total other comprehensive income (loss) Comprehensive income (loss) Comprehensive loss attributable to noncontrolling interest Comprehensive income (loss) attributable to Macy's, Inc. shareholders S F-7 2020 (3,944) S 107 35 62 204 (3,740) (3,740) S 2019 564 S (107) 23 44 (40) 524 524 S The accompanying notes are an integral part of these Consolidated Financial Statements. 2018 1,098 (151) 23 65 (63) 1,035 10 1,045 Net sales Credit card revenues, net Cost of sales MACY'S, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (millions, except per share data) Selling, general and administrative expenses Gains on sale of real estate Restructuring, impairment, store closing and other costs Operating income (loss) Benefit plan income, net Settlement charges Interest expense Financing costs Losses on early retirement of debt Interest income Income (loss) before income taxes Federal, state and local income tax benefit (expense) Net income (loss) Net loss attributable to noncontrolling interest Net income (loss) attributable to Macy's, Inc. shareholders Basic earnings (loss) per share attributable to Macy's, Inc. shareholders Diluted earnings (loss) per share attributable to Macy's, Inc. shareholders S F-6 S S 2020 17,34 6 S 751 (12,28 6) (6,767) 60 (3,579) (4,475) 54 (84) (284) (5) (4,790) 846 (3,944) (3,944) S (12.68) S (12.68) S 2019 24,56 0S 771 (15,17 1) (8,998) 162 (354) 970 31 (58) (205) (30) 20 728 (164) 564 564 S 1.82 S The accompanying notes are an integral part of these Consolidated Financial Statements. 1.81 S 2018 24,97 768 (15,21 5) (9,039) 389 (136) 1,738 39 (88) (261) (33) 25 1,420 (322) 1,098 10 1,108 3.60 3.56 Historical Balance Sheets and Income Statements o Pull the latest balance sheet and income statement from the 10-K annual report from SEC Edgar. • Horizontal and Vertical Analysis o Perform horizontal and vertical analysis on the balance sheet and income statement for the current year. • Ratio Analysis o Perform ratio analysis on your company, selecting at least 2 ratios from each basic category: liquidity, solvency, efficiency, and profitability. Compare with your company's prior year ratios and industry average ratios (https://www.readyratios.com/sec/industry/). • Understand and Explain Analysis Results o From the horizontal analysis, select at least 2 large or interesting changes (based on amount or percentage). I suggest line items such as revenue or cost of sales. o Using the Management Discussion and Analysis (MD&A) section of the annual report (as well as other sources such as news articles), explain why those line items changed over time. You may need to dig deeper into the numbers (for instance breaking down revenue into company segments or regions), show any work you do. • Projected Financial Statements o Project the balance sheet and income statements for 1 year into the future. Explain your assumptions for your projection. I suggest using outside reputable sources such as news articles and stock analysts' reports to build your assumptions. Current Assets: Property and Equipment - net Right of Use Assets Goodwill Cash and cash equivalents Receivables Merchandise inventories Prepaid expenses and other current assets Total Current Assets Other Intangible Assets-net Other Assets Total Assets MACY'S, INC. CONSOLIDATED BALANCE SHEETS ASSETS Total Current Liabilities LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Short-term debt Merchandise accounts payable Accounts payable and accrued liabilities Income taxes Long-Term Debt Long-Term Lease Liabilities Deferred Income Taxes Other Liabilities (millions) Shareholders' Equity: Common stock (310.5 and 309.0 shares outstanding) Additional paid-in capital Accumulated equity Treasury stock Accumulated other comprehensive loss Total Shareholders' Equity Total Liabilities and Shareholders' Equity January 30, 2021 F-8 S S 1,679 276 3,774 455 6,184 5,940 2,878 828 437 1,439 17,706 1,978 2,927 452 S 5,357 4,407 3,185 908 1,296 3 571 3,928 (1,161) (788) February 1, 2020 2,553 S 17,706 S The accompanying notes are an integral part of these Consolidated Financial Statements. 685 409 5,188 528 6,810 6,633 2,668 3,908 439 714 21,172 539 1,682 3,448 81 5,750 3,621 2,918 1,169 1,337 3 621 7,989 (1,241) (995) 6,377 21,172 MACY'S, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (millions) Net income (loss) Other comprehensive income (loss), net of taxes: Net actuarial gain (loss) and prior service credit on post employment and postretirement benefit plans, net of tax effect of $37 million, $36 million and $52 million Reclassifications to net income (loss): Net actuarial loss and prior service cost on post employment and postretirement benefit plans, net of tax effect of $12 million, 58 million and $7 million Settlement charges, net of tax effect of $22 million, $14 million and $23 million Total other comprehensive income (loss) Comprehensive income (loss) Comprehensive loss attributable to noncontrolling interest Comprehensive income (loss) attributable to Macy's, Inc. shareholders S F-7 2020 (3,944) S 107 35 62 204 (3,740) (3,740) S 2019 564 S (107) 23 44 (40) 524 524 S The accompanying notes are an integral part of these Consolidated Financial Statements. 2018 1,098 (151) 23 65 (63) 1,035 10 1,045 Net sales Credit card revenues, net Cost of sales MACY'S, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (millions, except per share data) Selling, general and administrative expenses Gains on sale of real estate Restructuring, impairment, store closing and other costs Operating income (loss) Benefit plan income, net Settlement charges Interest expense Financing costs Losses on early retirement of debt Interest income Income (loss) before income taxes Federal, state and local income tax benefit (expense) Net income (loss) Net loss attributable to noncontrolling interest Net income (loss) attributable to Macy's, Inc. shareholders Basic earnings (loss) per share attributable to Macy's, Inc. shareholders Diluted earnings (loss) per share attributable to Macy's, Inc. shareholders S F-6 S S 2020 17,34 6 S 751 (12,28 6) (6,767) 60 (3,579) (4,475) 54 (84) (284) (5) (4,790) 846 (3,944) (3,944) S (12.68) S (12.68) S 2019 24,56 0S 771 (15,17 1) (8,998) 162 (354) 970 31 (58) (205) (30) 20 728 (164) 564 564 S 1.82 S The accompanying notes are an integral part of these Consolidated Financial Statements. 1.81 S 2018 24,97 768 (15,21 5) (9,039) 389 (136) 1,738 39 (88) (261) (33) 25 1,420 (322) 1,098 10 1,108 3.60 3.56
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Horizontal Analysis Balance Sheet Item 2023 2022 Change Change Current Assets 6184 6810 626 917 Property and Equipment net 5940 6633 693 1048 Right of Use Assets 2668 2878 210 733 Goodwill 828 714 114 ... View the full answer
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Business
ISBN: 978-0133354263
8th Canadian Edition
Authors: Ricky Griffin, Ronald J.Ebert , Frederick Starke, Melanie Lang, George Dracopoulos
Posted Date:
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