Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bargain Deal, Inc., is a leading retailer specializing in consumer electronic fiscal year ended January 28, 2017, are shown below. Bargain Deal, Inc. Balance Sheet

image text in transcribed
image text in transcribed
Bargain Deal, Inc., is a leading retailer specializing in consumer electronic fiscal year ended January 28, 2017, are shown below. Bargain Deal, Inc. Balance Sheet At January 28, 2017 ($ in millions) Assets Current assets: Cash and cash 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 liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 1,996 1,307 1,172 5,053 396 9,924 3,643 $13,567 $ 4,550 2,675 7,225 2,220 4,122 $13,567 Bargain Deal, Inc. Income Statement For the Year Ended January 28, 2017 ($ in millions) Revenues $39,538 Costs and expenses 38, 155 Operating income 1,383 Other income (expense) (67) Income before income taxes 1, 316 Income tax expense 533 Net income $ 783 *Includes $98 of interest expense. Shareholders' equity Total liabilities and shareholders' equity 4,122 $13,567 Bargain Deal, Inc. Income Statement For the Year Ended January 28, 2017 ($ in millions) Revenues $39,538 Costs and expenses 38,155 Operating income Other income (expense)* (67) Income before income taxes 1, 316 Income tax expense 533 Net income $ 783 1,383 *Includes $98 of interest expense. Required: 1-a. Calculate the current ratio for Bargain Deal for its fiscal year ended January 28, 2015 1-b. Calculate the acid-test ratio for Bargain Deal for its fiscal year ended January 28, 20 1-c. Calculate the debt to equity ratio for Bargain Deal for its fiscal year ended January 2 1-d. Calculate the times interest earned ratio for Bargain Deal for its fiscal year ended Ja (For all requirements, round your answers to 2 decimal places.) 1-a Current ratio 1-b. Acid-test ratio 1-C. Debt to equity ratio 1-d. Times interest earned ratio times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools For Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Ibrahim M. Aly, Donald E. Kieso

6th Canadian Edition

1119731828, 9781119731825

More Books

Students also viewed these Accounting questions

Question

Explain all drawbacks of application procedure.

Answered: 1 week ago