Refer to Best Buys financial statements in Appendix A to answer the following. 1. Using fiscal 2005

Question:

Refer to Best Buy’s in Appendix A to answer the following.
1. Using fiscal 2005 as the base year, compute trend percents for fiscal years 2005, 2006, and 2007 for revenues, cost of sales, selling general and administrative expenses, income taxes, and net income. (Round to the nearest whole percent.)
2. Compute common-size percents for fiscal years 2007 and 2006 for the following categories of assets: (a) total current assets, (b) property and equipment, net, and (c) . (Round to the nearest tenth of a percent.)
3. Comment on any significant changes across the years for the income statement trends computed in part 1 and the percents computed in part 2.

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