Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can some one help me with 1-d It keep saying it wrong Bargain Deal, Inc., is a leading retailer specializing in consumer electronics A condensed
can some one help me with 1-d It keep saying it wrong
Bargain Deal, Inc., is a leading retailer specializing in consumer electronics A condensed income statement and balance sheet for 1 fiscal year ended January 28, 2017. are shown below Bargain Deal, Inc. Balance Sheet At January 28, 2017 5 in milions) Assets Current assets: Cash and cash equivalents Short tern investments Accounts receivable (not) Inventory Other current assets Total current assets Long term assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Dther current liabilities Total current liabilities Long-tern liabilities Shareholders' equity Total 1 abilities and h olders cousty $11, 451 2,252 Bargain Deal, Inc. Income Statement For the Year Ended January 28, 2017 ($ in millions) $39,618 Costs and expenses 38,171 Operating income Incone before income taxes Bargain Deal, Inc. Income Statement For the Year Ended January 28, 2017 ($ in millions) Revenues $39,618 Costs and expenses 38,171 Operating income 1,447 Other income (expense)* (83) Income before income taxes 1,364 Income tax expense 773 Net income $ 591 *Includes $242 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 (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 1.06 0.49 5.73 9.47 timesStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started