Consolidated Balance Sheets (in thousands, except per share data) February 29, 2020 March 2, 2019 S $ Assets Current assets: Cash and cash equivalents Short term investment securities Merchandise inventories Prepaid expenses and other current assets Assets held-for-sale 1,000,340 385,642 2,093,869 248,342 98,092 508,971 485,799 2,618,922 296,280 Total current assets 3,826,285 3,909,972 Long term investment securities Property and equipment, net Operating lease assets Goodwill 20,380 1,430,604 2,006,966 20.010 1,853.091 391,052 396,416 Other assets 506,280 Total assets S 7,790,515 6,570,541 $ $ Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued expenses and other current liabilities Merchandise credit and gift card liabilities Current operating lease liabilities Liabilities related to assets held-for-sale Current income taxes payable 944,194 675,776 340,407 463.005 43,144 1,094,078 623,734 339,322 20,498 Total current liabilities 2,466,526 2,077,632 395,409 Other liabilities Operating lease liabilities Income taxes payable Long term debt 204.926 1,818,783 46.945 1,488,400 49.235 1,487,934 Total liabilities 6,025,580 4,010,210 Shareholders' equity: Preferred stock - $0.01 par value; authorized - 1,000 shares; no shares issued or outstanding Common stock - $0.01 par value; authorized - 900,000 shares; issued 343,683 and 342,582, respectively; outstanding 126,528 and 132,233 shares, respectively Additional paid-in capital Retained earnings Treasury stock, at cost Accumulated other comprehensive loss 3,436 2,167,337 10,374,826 (10,715,755) (64,909) 3,426 2,118,673 11,112,887 (10,616,045) (58,610) Total shareholders' equity 1,764,935 2,560,331 Total liabilities and shareholders' equity S 7,790,515 6,570.541 See accompanying Notes to Consolidated Financial Statements. Consolidated Statements of Operations (in thousands, except per share data) Twelve Months Ended February 29, 2020 March 2, 2019 March 3, 2018 Net sales $ 11,158,580 12,028,797 $ 12,349,301 Cost of sales 7,616,920 7,924,817 7,906,286 Gross profit 3,541,660 4,103,980 4,443,015 Selling, general and administrative expenses 3,732,498 3,681,210 3,681,694 Goodwill and other impairments 509,226 509,905 Operating (loss) profit (700,064) (87,135) 761,321 Interest expense, net 64,789 69,474 65,661 (Loss) earnings before provision for income taxes (764,853) (156,609) 695,660 (Benefit) provision for income taxes (151,037) (19,385) 270,802 Net (loss) earnings $ (613,816) $ (137,224) $ 424,858 $ 3.05 Net (loss) earnings per share - Basic Net (loss) earnings per share - Diluted (4.94) $ (4.94) $ (1.02) $ (1.02) $ $ 3.04 Weighted average shares outstanding - Basic Weighted average shares outstanding - Diluted 124,352 124,352 134,292 134,292 139,238 139,739 Dividends declared per share $ 0.68 $ 0.64 $ 0.60 (LOSS) Income Comp (in thousands) Twelve Months Ended February 29, 2020 March 2, 2019 March 3, 2018 ( 613,816) $ (137,224) $ 424,858 Net (loss) earnings $ Other comprehensive (loss) income: 276 366 95 Change in temporary impairment of auction rate securities, net of taxes Pension adjustment, net of taxes Currency translation adjustment Reclassification due to the adoption of ASU 2018-02 (4,791) (1,784) (482) (10,198) 2,021 (2,548) (614) Other comprehensive (loss) income (6,299) (10,314) (1,046) Comprehensive (loss) income $ (620,115) $ (147,538) $ 423,812 Common Stock Accumulated Additional Treasury Stock Other Paid Retained Comprehensive Shares Amount in Capital Earnings Shares Amount Loss Total 339,533 $ 3,395 $ 1,974,781 $ 11,003,890 (193,259) $(10,215,539) $ (47,250) $ 2,719,277 Balance at February 25, 2017 Net earnings 424,858 424,858 Other comprehensive loss, net of tax 614 (1,046) (432) Dividend declared (85,859) (85,859) Shares sold under employee stock option plans, net of taxes 359 4 10,157 10,161 Issuance of restricted shares, net 1.575 16 (16) Payment and vesting of performance stock units 321 3 (3) Stock-based compensation expense, net 72,904 72.904 Director fees paid in stock 7 152 152 Repurchase of common stock, including fees Balance at March 3, 2018 (8,038) (252,433) (201,297) (10,467,972) (252,433) 2,888,628 341,795 3,418 2,057,975 11,343,503 (48,296) Net loss (137,224) (137,224) Other comprehensive loss, net of tax (10,314) (10,314) Effect of Adoption of ASU 2014-09 (4,221) (4,221) Dividend declared (89,171) (89,171) Shares sold under employee stock option plans, net of taxes Issuance of restricted shares, net 320 3 (3) Payment and vesting of performance stock units 464 5 (5) Stock-based compensation expense, net 60.657 60,657 Director fees paid in stock 3 49 49 Repurchase of common stock, including fees Balance at March 2, 2019 (9,052) (148,073) (210,349) (10,616,045) (148,073) 2,560,331 342,582 3,426 2.118,673 11.112.887 (58,610) Net loss (613,816) (613,816) Other comprehensive loss, net of tax (6,299) (6,299) Effect of Adoption of ASU 2016-02 (40,700) (40,700) Dividend declared (83,545) (83,545) Shares sold under employee stock option plans, net of taxes 139 1 2,345 2,346 Issuance of restricted shares, net 370 4 Payment and vesting of performance stock units 580 5 (5) Stock-based compensation expense, net 46,159 46,159 Director fees paid in stock 12 - 169 169 Repurchase of common stock, including fees Balance at February 29, 2020 (6.806 (99,710) (217,155) $(10,715,755) $ (99,710) (64,909) $ 1,764,935 343,683 S 3,436 $ 2,167,337 $10,374,826 Calculate the current ratio for the past two years and comment on the results. Calculate the day's sales inventory for the past two years and comment on the results. Calculate the day's sales in receivables for the past two years and comment on the results. Calculate the gross profit margin for the past two years and comment on the results. Calculate the profit margin for the past two years and comment on the results. Calculate the return on assets for the past two years and comment on the results. Calculate the debt ratio for the past two years and comment on the results. Overall Conclusion (16 points) Based on the financial ratios and other amounts from this packet, did the company have an improved year over the previous year? Support your answer with amounts from this packet