Best Buy reports the following income statements. Forecast Best Buy's 2009 income statement assuming the following income
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Best Buy reports the following income statements.
Forecast Best Buy's 2009 income statement assuming the following income statement relations; assume no change for all other accounts not listed below. All percentages, other than revenue growth and income tax expense, are based on percent of revenue.
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Income Statement, Fiscal Years Ended ($ millions) Revenue..... 2008 2007 $40,023 $35,934 Cost of goods sold.. Gross profit.... Selling, general and administrative expenses Operating income.. Other income Earnings before income tax expense. Income tax expense.. Net earnings.. 30,477 27,165 9,546 8.769 7,385 6,770 2,161 1,999 61 130 2,222 2,129 815 752 $ 1,407 $ 1,377
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Related Book For
Financial Accounting For MBAs
ISBN: 9781934319345
4th Edition
Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally
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