Homework Answers
| Macy's Inc | |
| Consolidated Income Statement | |
| For the year ended February 01 | |
| Particulars | Amount ($ in Millions) |
| Net Sales | 25,778.00 |
| Less: Cost of sales | -15,621.00 |
| Gross Margin | 10,157.00 |
| Less: Selling, General and administrative expenses | -8,265.00 |
| Less: Other Operating expenses | -577.00 |
| Operating Income | 1,315.00 |
| Less: Interest expenses | -367.00 |
| Add: Interest Income | 4.00 |
| Earnings before taxes | 952.00 |
| Less: Federal, State and Local Income Tax Expenses | -341.00 |
| Net Income | 611.00 |
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Macy's, Inc., operates the two best-known high-end department store chains in North America: Macy's and Bloomingdale's....
h. Days of inventory. 1. Inventory turnover ratio. J. Average collection period Based on these ratios,...
h. Days of inventory. 1. Inventory turnover ratio. J. Average collection period Based on these ratios, did Macy's financial performance improve, weaken, or remain about the same from 2015 to 2016? (479) 198 Consolidated Statements of Income for Macy's, Inc., 2015-2016 (in millions, except per share amounts) 2016 2015 Net sales $25,778 $27,079 Cost of sales (15,621) (16,496 Gross margin 10,157 10,583 Selling, general and administrative expenses (8,265) (8,256) Impairments, store closing and other costs (288) Settlement charges Operating income...
ASSURANCE OF LEARNING EXERCISES 1. conn LO4-1 Using the financial ratios provided in the Appendix and...
ASSURANCE OF LEARNING EXERCISES 1. conn LO4-1 Using the financial ratios provided in the Appendix and the following financial statement information for Macy's, Inc., calculate the following ratios for Macy's for both 2015 and 2016. 1. Gross profit margin 2. Operating profit margin 3. Net profit margin 4. Times interest earned coverage 5. Return on shareholders' equity 6. Return on assets 7. Long-term debt-to-equity ratio 8. Days of inventory 9. Inventory turnover ratio 10. Average collection period Based on these...
Ratios 2016 2015 a. Gross profit margin (%) 39.4 39.1 b. Operating profit margin (%) 5.1...
Ratios
2016
2015
a.
Gross profit margin (%)
39.4
39.1
b.
Operating profit margin (%)
5.1
7.5
c.
Net profit margin (%)
2.4
4.0
d.
Return on shareholders' equity (%)
14.1
25.2
e.
Return on assets (%)
3.1
5.2
f.
Times interest earned coverage
3.6
5.6
g.
Long-term debt-to-equity ratio
1.5
3.8
h.
Days of inventory
126.2
121.8
i.
Inventory turnover ratio
2.9
3.0
j.
Average collection
period
7.4
7.5
1-From 2015 to 2016, Macy’s, Inc., return on equity and...
Hasbro, Inc. (HAS), and Mattel, Inc. (MAT), are the two largest toy companies in North America....
Hasbro, Inc. (HAS), and Mattel, Inc. (MAT), are the two largest toy companies in North America. Condensed liabilities and stockholders’ equity from a recent balance sheet are shown for each company as follows (in thousands): Hasbro Mattel Liabilities: Current liabilities $1,617,859 $1,505,573 Long-term debt 1,588,067 2,580,439 Total liabilities $3,205,926 $4,086,012 Total stockholders’ equity $1,862,736 $2,407,782 Total liabilities and stockholders’ equity $5,068,662 $6,493,794 The operating income and interest expense from the income statement for each company were as follows (in thousands):...
success. It involves using the results of both industry and competitive analysis and com pany situation...
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Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC....
Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of Earnings Twelve Months Ended (in millions) Feb. 1. 2019 Net sales $71,309 Cost of sales 48,401 Gross margin 22.908 Expenses Selling general and administrative 17,413 Depreciation and amortization 1.477 Operating income 4,018 Interest expense, net 624 Pretax earnings 3.394 Income tax provision 1.090 Net earnings $2.314 Compute its net operating profit after tax (NOPAT) for the 12 months ended ended February...
11) Consider a retail firm with a net profit margin of 3.5%, a total asset turnover...
11) Consider a retail firm with a net profit margin of 3.5%, a total asset turnover of 1.8, total assets of $44 million, and a book value of equity of $18 million. a. What is the firm's current ROE? b. How does it compare with Macy's data for 2018? c. If the firm increased its net profit margin to 4%, what would its ROE be? CIS, C . CONSOLIDATED STATEMENTS OF INCOME (millions, except per share data) 2018 24,971 $...
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the...
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the company's fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,185, cost of goods sold, $1.410; selling expense, $200, general and administrative expense, $190; interest expense, $60; and gain on sale of investments, $155. Income tax expense has not yet been recorded. The income tax rate is 25%. Prepare a multiple-step income statement for 2021. (Amounts to be deducted should...
Forecasting an Income Statement AutoZone Inc. reports the following income statements. Consolidated Statement of Income ($...
Forecasting an Income Statement AutoZone Inc. reports the following income statements. Consolidated Statement of Income ($ in Thousands) 12 Months Ended Aug. 27, 2016 Net sales $10,635,676 Cost of sales, including warehouse and delivery expenses 5,026,940 Gross profit 5,608,736 Operating, selling, general and administrative expenses 3,548,341 Operating profit 2,060,395 Interest expense, net 147,681 Income before income taxes 1,912,714 Income tax expense 671,707 Net income $1,241,007 Forecast AutoZone's 2017 income statement assuming the following income statement relations ($ in thousands). All...
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the...
The adjusted trial balance of Pacific Scientific Corporation on
December 31, 2021, the end of the company's fiscal year, contained
the following income statement items ($ in millions): sales
revenue, $2,106; cost of goods sold, $1,240; selling expense, $126;
general and administrative expense, $105; interest expense, $40;
and gain on sale of investments, $45. Income tax expense has not
yet been recorded. The income tax rate is 25%.
Prepare a multiple-step income statement for 2021. (Amounts
to be deducted should...
h. Days of inventory. 1. Inventory turnover ratio. J. Average collection period Based on these ratios, did Macy's financial performance improve, weaken, or remain about the same from 2015 to 2016? (479) 198 Consolidated Statements of Income for Macy's, Inc., 2015-2016 (in millions, except per share amounts) 2016 2015 Net sales $25,778 $27,079 Cost of sales (15,621) (16,496 Gross margin 10,157 10,583 Selling, general and administrative expenses (8,265) (8,256) Impairments, store closing and other costs (288) Settlement charges Operating income...
ASSURANCE OF LEARNING EXERCISES 1. conn LO4-1 Using the financial ratios provided in the Appendix and the following financial statement information for Macy's, Inc., calculate the following ratios for Macy's for both 2015 and 2016. 1. Gross profit margin 2. Operating profit margin 3. Net profit margin 4. Times interest earned coverage 5. Return on shareholders' equity 6. Return on assets 7. Long-term debt-to-equity ratio 8. Days of inventory 9. Inventory turnover ratio 10. Average collection period Based on these...
Ratios
2016
2015
a.
Gross profit margin (%)
39.4
39.1
b.
Operating profit margin (%)
5.1
7.5
c.
Net profit margin (%)
2.4
4.0
d.
Return on shareholders' equity (%)
14.1
25.2
e.
Return on assets (%)
3.1
5.2
f.
Times interest earned coverage
3.6
5.6
g.
Long-term debt-to-equity ratio
1.5
3.8
h.
Days of inventory
126.2
121.8
i.
Inventory turnover ratio
2.9
3.0
j.
Average collection
period
7.4
7.5
1-From 2015 to 2016, Macy’s, Inc., return on equity and...
success. It involves using the results of both industry and competitive analysis and com pany situation analysis to identify a "worry list" of issues to be resolved for the company to be financially and competitively successful in the years ahead. Actually deciding upon a strategy and what specific actions to take comes after the list of strategic issues and prob- lems that merit front-burner management attention has been developed. Good company situation analysis, like good industry and competitive analysis, is...
Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of Earnings Twelve Months Ended (in millions) Feb. 1. 2019 Net sales $71,309 Cost of sales 48,401 Gross margin 22.908 Expenses Selling general and administrative 17,413 Depreciation and amortization 1.477 Operating income 4,018 Interest expense, net 624 Pretax earnings 3.394 Income tax provision 1.090 Net earnings $2.314 Compute its net operating profit after tax (NOPAT) for the 12 months ended ended February...
11) Consider a retail firm with a net profit margin of 3.5%, a total asset turnover of 1.8, total assets of $44 million, and a book value of equity of $18 million. a. What is the firm's current ROE? b. How does it compare with Macy's data for 2018? c. If the firm increased its net profit margin to 4%, what would its ROE be? CIS, C . CONSOLIDATED STATEMENTS OF INCOME (millions, except per share data) 2018 24,971 $...
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the company's fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,185, cost of goods sold, $1.410; selling expense, $200, general and administrative expense, $190; interest expense, $60; and gain on sale of investments, $155. Income tax expense has not yet been recorded. The income tax rate is 25%. Prepare a multiple-step income statement for 2021. (Amounts to be deducted should...
The adjusted trial balance of Pacific Scientific Corporation on
December 31, 2021, the end of the company's fiscal year, contained
the following income statement items ($ in millions): sales
revenue, $2,106; cost of goods sold, $1,240; selling expense, $126;
general and administrative expense, $105; interest expense, $40;
and gain on sale of investments, $45. Income tax expense has not
yet been recorded. The income tax rate is 25%.
Prepare a multiple-step income statement for 2021. (Amounts
to be deducted should...
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