1.

Best Buy Co, Inc., is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended February 26, 2011, are shown below.

Best Buy Co., Inc. Balance Sheet At February 26, 2011 ($ in millions)
Assets
Current assets:
Cash and cash equivalents	$	1,103
Short-term investments		22
Accounts receivable, net		2,348
Merchandise inventories		5,897
Other current assets		1,103
Total current assets		10,473
Noncurrent assets		7,376
Total assets	$	17,849
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	4,894
Other current liabilities		3,769
Total current liabilities		8,663
Long-term liabilities		1,894
Shareholders