(Chapter 11) Please answer all questions with a red X next to them. Thank you!

Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of Best Buy Co., Inc. Income Statement, Fiscal Years Ended ($ millions) Feb. 26, 2011 50,272 37,611 24 12,637 10,325 198 Feb. 27, 2010 $ 49,694 37,534 Revenue Cost of goods sold Restructuring charges cost of goods sold Gross profit Selling, general and administrative expenses Restructuring charges Goodwill and tradename impairment Operating income Other income (expenses) Investment income and other Interest expense Earnings before income tax expense and equity in income of affiliates 12,160 9,873 52 2,114 2,235 51 (87) 2,078 714 54 (94) 2,195 802 ncome tax expense Equity in income of affiliates Net earnings including noncontrolling interests Net earnings attributable to noncontrolling interests Net earnings attributable to Best Buy Co., Inc. 1,366 (89) 1,277 1,394 (77) 1,317 Balance Sheet ($ millions) Feb. 26, 2011 Feb. 27, 2010 1,103 1,826 90 2,020 Cosh and cash equivalents Short-term investments Receivables Merchandise inventories Other current assers Total current assets Property and equipment Lend and buildings Leasehold improvements Fictures and equipment Property under capital lease Gross property and equipment 5,897 1.103 10,473 1,144 10,566 2,154 4,447 95 2,318 4,701 120 7,905 4,082 3,823 7,453 3,383 4,070 Net property and equipment Goodwil Tradenames, Net Customer Relationships, Net Equity and Other Investments Other assets Total assets Liabilities and Equity Accounts payable Unredeemed giftcard liabilities Accrued compensation and related expenses Accrued liabilities Accrued income taxes Short-term debt 133 203 328 435 17,849 159 324 18,302 4,894 474 570 1.471 256 557 441 8,663 1,183 5,276 463 Current portion of long-term debt Total current liabilities Long-term liabilities Long-term debt Best Buy Co., Inc. Shareholders' Equity Preferred stock, $ 1.00 par value: Authorized-400,000 1,681 316 663 35 8,978 1,256 1,104 shares; Issued and outstanding-none Common stock $0.10 par value: Authorized-1.0 billion shares; Issued and outstanding-392,590,000 and 418,815,000 shares, respectively 39 441 5,797 40 Additional paid-in capical Retained earnings 173 Total Best Buy Co., Inc. shareholders' equity Noncontrolling interests Total equity Total liabilities and shareholders' equity 6,602 7,292 6,964 $ 17,849 18,302 Forecast Best Buy's fiscal 2012 income statement using the following relations (assume "no change" for accounts not listed). Revenue growth Cost of good sold/Revenue Restructuring charges cost of good sold Selling, general and administrative expenses/Revenue 5% 74.86 20.59% Goodwill and trademark impaiment Investment income and other 551 Interest expense Income tax Equity in income of affiliates Net earnings attributable to noncontrolling interests/Net earnings including n (87) 34.46 $2 interests 6.5% e Round all answers to nearest whole number Do not use negative signs with your answers in the income statement. 2012 Estimated Income Statement, Fiscal Years Ended (S millions) Revenue $ 51,780 Cost of goods sold 38,732x Restructuring charges-cost of goods sold Gross profit 13,049x Selling, general and administrative expenses Goodwill and tradename impairment Operating income Other income/expenses Investment income and other Interest income Earnings before income tax expense and equity in income of affillates Income tax expense Equity in income of affiliates Net earnings includingn Net earnings attributable to noncontrolling interests Net earnings attributable to Best Buy Co., Inc. Forecast Best Buy's fiscal 2012 balance sheet using the following relations (assume "no change" for accounts not listed). Assume that all capital expenditures are purchases of property and equipment. Short-term investments Receivables/Revenue Merchandise inventories/Revenue Other current assets/Revenue CAPEX (Increase in gross Property and equipment)/Revenue Goodwill Amortization expense for Tradenames Amortization expense for Customer relationships Equity and Other Investments Other Assets/Revenue No change 4.796 2.296 1.56 No change $25 $38 No change 0.96 Accounts payable/Revenue Unredeemed gift card liabilities/Revenue Accrued compensation and related expenses/Revenue Accrued liabilities/Revenue Accrued income taxes/Revenue Long-term liabilities Noncontrolling interests Depreciation/Prior year gross P Amortization/Prior year intangible asset balance Dividends/Net income Long-term debt payments required in fiscal 2013 *increase by net income attributable to noncontrolling interests and assume no dividends 9.796 0.9% 1.16 2.996 0.596 No change 12.0% 18.7% 18.6% $37 .Round all answers to the nearest whole number. Do not use negative signs with your answers in the balance sheet. Round all answers to the nearest whole number Do not use negative signs with your answers in the balance sheet Balance Sheet (s millions) 2012 Estimated Assess Cash and cash equivalents Short serm investments Receivables Other current assets Total currens assess Property and equipmers Gross property and equipment sccumulatedd epr Net property and equipmers Goodw Cusiomer Relationships Ne Equity and Other Investmens Other assets Toual assets Liabilities and Accounts payabile Unredeemed gift card liabilisies Accrued compensation and related expenses equity Accrued Irabiies Accrued income Lxe Shoterm debt Current portion of long-term debl Tolal current iabilities Long term liabilities Long term deb Des Day Co, In. Shareholders Equity Preferred stock, $1.00 par value: Authoriaed-4 ares:Issued and outslanding-none Common stock, 50.10 par value Authoriced-1.0 billion shares; sued and outstanding 400,000 sh shares respectively 392590,000 and 418.B15,000 shares, respectively Addisional paid-in capital Relained earnings 0 x Tolal Dest Buy Co Inc. shareholders equity Norcontrolling interests Total equilty otal liabiliies and Equity