Macy's, inc., operates the two best-known high-end department store chains in north america: macy's and bloomingdale's. the following 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

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:

step 1: create a plan

step 2: inventory facility equipment/assets

step 3: create preventive maintenance procedures

step 4: create preventive maintenance schedules

step 5: train your maintenanceteam

step 6: analyze – adjust - improve

or

step 1 – pm procedure design: doing the effective things

step 2 – pm procedure scheduling: efficient use of people and resources

step 3 – pm lubrication engineering

step 4 – pm training: back on the chain gang

step 5 – pm program management plan

step 6 – communicate, communicate, communicate