Following are the income statements and balance sheets of Macy's, Inc. Refer to the financial information above
Question:
Refer to the financial information above for Macy's, Inc. Prepare a forecast of its financial year 2014 statement of cash flows.
Round all answers to the nearest whole number. Use negative signs with answers, when appropriate.
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Consolidated Statement of Income, Fiscal Years Ended (S millions) 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 Interest Expense Premuim on early retirement debt (loss) Interest income Incomebefore income taxes Federal, state and local income tax expense Net Income 2014Feb. 2, Estimated 2013 $29.070 S27,686 17,355 16,538 11,71511,148 8,8958,482 2,8202,661 425 425 (137) 2,3982,102 875 $1,523S1,335 767 Consolidated Balance Sheets (millions) Assets Current Assets Cash and cash equivalents Short-term investments Receivables Merchandise inventories Prepaid expenses and other curent assets Total current assets Property and equipment, gross Less accumulated depreciaion Property and equipment, net Goodwill Other intangible assets--net Other assets Total assets Liabilities and Shareholders Equity Current Liabilities Short-term debt (current portion oflong-term debt) Merchandise accounts payable 2014 Feb. 2, Estimated 2013 S1,919 $1,836 1,478 0 378 5,581 5,308 378 9,734 7,876 14,405 14,143 6,979 5,947 7,426 8,196 3,743 3,743 561 640 $22,104 $20,991 371 361 561 615 S144S124 1,657 1,579 Consolidated Balance Sheets (millions) Accounts payable and accrued liabilities Income Taxes Deferred income taxes Total current liabilites Long-term debt Deferred income taxes Other liabilites Shareholders' equity Common stock (387.7 and 414.2 shares outstanding) 4 Additional paid-in capital Accumulated Equity Treasury Stock Accumulated other comprehen Total shareholders' equity Total liabilities and shareholders' equity CAPEX (increase in gross Property and equipment)Net sales 0.90% Depreciation expens/Prior year gross PPHE Dividends/Net income Long-term debt payments requi 2014 Feb. 2 Estimated 2013 2,733 2,610 378 436 S5,348 $5,075 6,325 6,806 1,308 1,238 1,919 355 407 1,821 3,8723,872 6,2615.108 (2,002) 2,002) (931) 931) 7,204 6,051 S22,104 $20,991 sive loss 7.30% 24.30% $461 red in fiscal 2014
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1111822361
1st edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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