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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

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 1, 2014, are shown below.

Best Buy Co., Inc. Balance Sheet At February 1, 2014 ($ in millions)
Assets
Current assets:
Cash and cash equivalents $ 2,698
Short-term investments 225
Accounts receivable, net 1,318
Merchandise inventories 5,378
Other current assets 904
Total current assets 10,523
Noncurrent assets 3,538
Total assets $ 14,061
Liabilities and shareholders' equity
Current liabilities:
Accounts payable $ 5,222
Other current liabilities 2,514
Total current liabilities 7,736
Long-term liabilities 2,592
Shareholders equity 3,733
Total liabilities and shareholders' equity $ 14,061

Best Buy Co., Inc. Income Statement For the Year Ended February 1, 2014 ($ in millions)
Revenues $ 42,420
Costs and expenses 41,272
Operating income 1,148
Other income (expense)* (55 )
Income before income taxes 1,093
Income tax expense 428
Net income $ 665

*Includes $118 of interest expense.

Liquidity and financing ratios for the industry are as follows:

Industry Average
Current ratio 1.41
Acid-test ratio 0.62
Debt to equity 0.72
Times interest earned 5.91 times

Required:
1-a.

Calculate the current ratio for Best Buy for its fiscal year ended February, 1, 2014. (Round your answer to 2 decimal places.)

1-b.

Calculate the acid-test ratio for Best Buy for its fiscal year ended February, 1, 2014. (Round your answer to 2 decimal places.)

1-c.

Calculate the debt to equity ratio for Best Buy for its fiscal year ended February, 1, 2014. (Round your answer to 2 decimal places.)

1-d.

Calculate the times interest earned ratio for Best Buy for its fiscal year ended February, 1, 2014.(Round your answer to 1 decimal place.)

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