E$5-7($Algo$)$ Preparing a Classified $($Multiple$-$Step$)$ Income Statement LO$5-3$

Marcy's, Incorporated, operates the two best$-$known high$-$end department store chains in North America: Marcy's and Bloomington's.

The following simplified data $($in millions$)$ were taken from its recent annual report for the year ended February $1$ :

Required:

Prepare a complete classified $($multiple$-$step$)$ consolidated statement of income. $($showing gross margin, operating income, and income

before income taxes$).$

Note: Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$