Best Buy Co., Inc., reported the following amounts in its February 3, 2018, and January 28, 2017,

Question:

Best Buy Co., Inc., reported the following amounts in its February 3, 2018, and January 28, 2017, financial statements.

REQUIRED:

a. Prepare an income statement for Best Buy for the year ended February 3, 2018, using the format illustrated in Exhibit 1.8.

b. Calculate Best Buy's return on equity for the year ended February 3, 2018.

c. Compute Best Buy's debt-to-equity ratio as of February 3, 2018.

Exhibit 1.8

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Financial Accounting

ISBN: 9781618533111

6th Edition

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

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Question Posted: Oct 20, 2021 09:14 AM

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Best Buy Co., Inc., reported the following amounts in its February 3, 2018, and January 28, 2017,

Question:

($ millions) 2018 2017 Sales revenue. $42,151 32,275 1,000 13,049 3,612 S39,403 Cost of sales... Net income (loss).. Total assets ... Stockholders' equity.. 29,963 1,228 13,856 4,709

Step by Step Answer:

a b Best Buys ROE 1000 mil 4709 mil 3612 mil2 240 c Best Buys ...View the full answer

Financial Accounting

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