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Best Buy Company, Incorporated, is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended
Best Buy Company, Incorporated, is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended February 1, 2020, are shown below. Current assets: Best Buy Company, Incorporated Balance Sheet At February 1, 2020 ($ in millions) Assets Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Long-term assets Total assets Liabilities and Shareholders' Equity Current liabilities: $ 2,229 1,149 5,174 305 8,857 6,734 $ 15,591 Accounts payable Other current liabilities Total current liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity Revenues Best Buy Company, Incorporated Income Statement For the Year Ended February 1, 2020 Costs and expenses Operating income ($ in millions) Other income (expense)* Income before income taxes Income tax expense Net income *Includes $64 of interest expense. Required: $ 43,638 41,629 2,009 (16) 1,993 452 $ 1,541 $ 5,288 2,772 8,060 4,052 3,479 $ 15,591 1-a. Calculate the current ratio for Best Buy for its fiscal year ended February 1, 2020. 1-b. Calculate the acid-test ratio for Best Buy for its fiscal year ended February 1, 2020. 1-c. Calculate the debt to equity ratio for Best Buy for its fiscal year ended February 1, 2020. 1-d. Calculate the times interest earned ratio for Best Buy for its fiscal year ended February 1, 2020. Note: For all requirements, round your answers to 2 decimal places.
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