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fomenos
4 years ago
6

Macy's, Inc., operates the two best-known high-end department store chains in North America: Macy's and Bloomingdale's. The foll

owing simplified data (in millions) were taken from its recent annual report for the year ended February 1: Cost of sales $ 15,621 Federal, state, and local income tax expense 341 Interest expense 367 Interest income 4 Net sales 25,778 Other operating expenses 577 Selling, general, and administrative expenses 8,265 Required: Prepare a complete classified (multiple-step) consolidated statement of income for the company (showing gross margin, operating income, and income before income taxes). (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Business
1 answer:
Vinil7 [7]4 years ago
5 0

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

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All other things being equal, the numerical difference between a present and a future value corresponds to the amount of interes
Valentin [98]

Answer:

im sorry but GOD BLEESED YOU

3 0
3 years ago
With the objectives of pre-venting crime, maintaining property values, and preserving the quality of urban life, New York City e
Artist 52 [7]

Answer:

The answer is: the Court should block the application of this city ordinance due to discrimination against businesses with topless female dancers.

Explanation:

The Equal Protection Clause (Section 1 of the Fourteenth Amendment) states the following:

"All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside. No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any State deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws."

This is commonly known as Equal Justice Under the Law, which means both men and women have to be treated equally by all laws and ordinances in every government level.

In this specific case the city ordinance only regulates businesses with topless female dancers but it doesn´t regulate businesses with topless male dancers. In order for the city ordinance to comply with the Fourteenth Amendment it must regulate all businesses with topless dancers without regards on whether male or female dancers perform on the shows.

3 0
3 years ago
Despite differences arising from environmental variation, all foraging economies have shared one essential feature:
Vilka [71]

Answer:

Letter E is correct. <u>Their reliance on available natural resources for their subsistence, rather than controlling the reproduction of plants and animals.</u>

Explanation:

The use of natural resources is common and essential to all foraging economies, whose fundamental principle is to produce for their own consumption. These are economies that depend on hunting, gathering or fishing to survive.

However, there is no systematization of economic processes nor the use of socio-structural variables and policies that help these subsistence economies to gain a new perspective on the control and functioning of the economy, which can help in the processes and optimization of the utilization of natural resources.

8 0
3 years ago
A financial statement user would determine if a company was profitable or not during a specific period of time by reviewing the
Ivanshal [37]

Answer:

Income statement

Explanation:

3 0
3 years ago
The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure
julia-pushkina [17]

Answer:

North American Industry Classification System (NAICS)

Explanation:

North American Industry Classification System (NAICS): It is a system or standard code been used in classifying business by the type of economic activity. These data been used by government and business of United sates, Mexico and Canada. This system make the measurement of industrial, reseller, and government markets easier. NAICS provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA). NAIC has replaced standard industrial classification (SIC) system, which was in place for 50 years.

6 0
3 years ago
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