Question: 45 Prepare Balance Sheet Macy's, Inc., headquartered in both Cincinnati and New York, operates more than 840 stores in 45 states under the Macy's and

45 Prepare Balance Sheet Macy's, Inc., headquartered in both Cincinnati and

45 Prepare Balance Sheet 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): $ 6,151 ? ? ? Long-term debt Cash Total liabilities Shareholders' equity Inventories Merchandise accounts payable Property, plant, and equipment Other assets Other liabilities Total assets 7,158 3,576 8,423 5,585 6,684 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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