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Bargain Deal, Inc. is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended January 28,
Bargain Deal, Inc. is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended January 28, 2017 are shown below. Bargain Down, Inc. Balance Sheet At January 28, 2017 ($ in millions) Assets Current assets: Cash and casty equivalents Short term investments Accounts receivable (net) Inventory Other current assets Total current assets Long-term assets Total assets Liabilities and Shareholders Equity Current liabilities Accounts payable Other current liabilities Total current abilities Long-term Itabilities Shareholders equity Total liabilities and shareholders equity 5 2,176 1,325 1,262 5,071 432 10266 3.733 $13,999 5 5,450 4.475 9,025 2,256 1,818 $13,999 Bargain Deal, Inc. Income Statement For the Year Ended January 28, 2017 ($ in millions) Revenues $39,628 Costs and expenses 38,173 Operating income 1,455 Other income (expense)" (85) Income before income taxes 1,370 Income tax expense 803 Net income $ 567 "Includes $260 of interest expense. Required: 1-a. Calculate the current ratio for Bargain Deal for its fiscal year ended January 28, 2017. 1-b. Calculate the acid-test ratio for Bargain Deal for its fiscal year ended January 28, 2017 1-c. Calculate the debt to equity ratio for Bargain Deal for its fiscal year ended January 28, 2017 1-d. Calculate the times interest earned ratio for Bargain Deal for its fiscal year ended January 28, 2017
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