1. What happened to Best Buys online sales this past quarter? 5 points

second-quarter sales rose to $9.91 billion, compared with $9.54 billion in the year-earlier periodnet income rose to $432 million, compared with $238 million in the year-earlier period.

Calculate the net profit margin for Best Buy a year ago. 5 points What happened to the companys operating expenses from a year ago? 5 points

2. Home Depot saw greater than 10% increases in what metrics? 10 points

3. What is an agency problem? If you vote for a senator who is the agent and who is the owner? 15 points

4. A firm had a tax liability of $100,000. What was its taxable income? 10 points

Income	Tax rate
$0 - $50,000	15%
$50,000 - $75,000	25%
$75,000 - $10,000,000	34%
Over $10,000,000	35%

5. Fill in the accounts with the missing values (blank spaces) for the following financial statements: Put the answers next to the accounts listed below and on the next page. 30 points

Interest Expense

Retained Earnings

2019 Income Statement
Sales	$300,000
Less: Cost of Goods Sold	$150,000
Less: Depreciation Expense	$8,000
Earnings Before Interest & Taxes (EBIT)	$142,000
Less: Interest Expense
Net Income Before Taxes	$140,000
Less: Taxes (35%)	$49,000
Net Income After Taxes	$91,000
Dividends Paid	$51,000
Retained Earnings

Balance Sheet
ASSETS
Current Assets	2018	2019
Cash	$5,000	$10,000
Accounts Receivable	$8,000	$10,000
Inventories	$19,000
Total Current Assets		$34,000
Net Fixed Assets	$68,000	$110,000
Total Assets		$144,000
LIABILITIES & STOCKHOLDERS EQUITY
Current Liabilities
Accounts Payable	$3,000	$4,000
Notes Payable	$3,000	$3,000
Other	$1,000
Total Current Liabilities	$7,000	$8,000
Long-Term Debt		$22,000
Owners Equity
Common Stock and Paid-In Surplus	$38,000	$40,000
Retained Earnings	$34,000	$74,000
Total Stockholders Equity	$72,000
Total Liabilities & Stockholders Equity

Inventories (2019)

Total current assets (2018)

Total assets (2018)

Other (2019)

Long Term Debt (2018)

Total Stockholders equity (2019)

Total Liabilities & Stockholders Equity (2018)

Total Liabilities & Stockholders Equity (2019)

Calculate the following ratios. Round your answers to two decimal places. 25 points

(1) current ratio (2018)

(2) total asset turnover (2019) (3) total debt ratio (2018)

(4) net profit margin (2019) (5) return on equity (2019)