1. Based on the information in the companys most recent annual report, determine each of the following:

   1. Gross profit for the two most recent years reported.

   2. Gross profit rate (Gross profit Sales) for each of the years noted. Round to one decimal place.

   3. What was the Operating income for the two most recent years reported? (Op Income Sales)

   4. Percentage change in operating income for the most recent year. Round to one decimal place.

   5. Net income for the two most recent years reported. (Net Income Sales)

   6. Percentage change in net income for the most recent year. Round to one decimal place.

2. Based solely on your responses to item 1 (Gross Profit, Operating Income and Net Income change in dollars and percentage), has the companys performance improved, remained constant, or deteriorated over the periods presented? Briefly explain your answer

Consolidated Balance Sheets S and shares in millions, except per share amounts January 30, 2021 February 1, 2020 S S 5,494 1,061 5,612 373 12,540 2.229 1,149 5,174 305 8,857 Assets Current assets Cash and cash equivalents Receivables, net Merchandise inventories Other current assets Total current assets Property and equipment Land and buildings Leasehold improvements Fixtures and equipment Property under finance leases Gross property and equipment Less accumulated depreciation Net property and equipment Operating lease assets Goodwill Other assets Total assets 658 2,192 6,333 73 9,256 6,996 2,260 2.612 986 669 19,067 650 2.203 6.286 89 9.228 6,900 2.328 2.709 984 713 15,591 S S S S 6.979 317 711 725 972 110 CO 693 14 5.288 281 501 410 906 Liabilities and equity Current liabilities Accounts payable Unredeemed gift card liabilities Deferred revenue Accrued compensation and related expenses Accrued liabilities Short-term debt Current portion of operating lease liabilities Current portion of long-term debt Total Total current liabilities Long-term operating lease liabilities Long-term liabilities Long-term debt Contingencies and commitments (Note 13) Equity Best Buy Co., Inc. Shareholders' Equity Preferred stock, $1.00 par value: Authorized - 400,000 shares: Issued and outstanding - none Common stock, So. 10 par value: Authorized - 1.0 billion shares; Issued and outstanding - 257 and 256 shares, respectively Additional paid-in capital Retained earnings Accumulated other comprehensive income 10,521 2,012 694 660 14 8,060 2.138 657 1,257 1.253 . 26 26 Total equity 4,233 328 4,587 19,067 3,158 295 3,479 15,591 Total liabilities and equity S S See Notes to Consolidated Financial Statements. Consolidated Statements of Earnings S and shares in millions, except per share amounts S S S January 30, 2021 47,262 36,689 10,573 7,928 254 2.391 February 1, 2020 43.638 33,590 10.048 7.998 41 2.009 February 2, 2019 42.879 32.918 9,961 8,015 Fiscal Years Ended Revenue Cost of sales Gross profit Selling, general and administrative expenses Restructuring charges Operating income Other income (expense): Gain on sale of investments Investment income and other Interest expense Earings before income tax expense Income tax expense Net earnings 1,900 37 (52) 2,377 579 1,798 47 (64) 1,993 452 1,541 1,888 | Talkids) S S S 1,464 Basic eamings per share Diluted eamings per share S S 6.93 6.84 S S 5.82 5.75 S S s Weighted average common shares outstanding: Basic Diluted 259.6 263.0 264.9 268.1 276.4 281.4 See Notes to Consolidated Financial Statements. 42