Double checking some homework questions. Thanks :)

P1. 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 26, 2011, are shown below. Best Buy Co., Inc. Balance Sheet At February 26, 2011 ($ in millions) Assets Current assets: Cash and cash equivalents $ 1,103 Short- term investments 22 Accounts receivable, net 2,348 Merchandise inventories 5,897 Other current assets 1,103 Total current assets 10,473 Noncurrent assets 7,376 Total assets $ 17,849 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 4,894 Other current liabilities 3,769 Total current liabilities 8,663 Long- term liabilities 1,894 Shareholders' equity 7,292 Total liabilities and shareholders' equity $ 17,849 Best Buy Co., Inc. Income Statement For the Year Ended February 26, 2011 ($ in millions) Revenues Costs and expenses Operating income Other income ( expense) Income before income taxes Income tax expense Net income $ 50,272 48,158 2,114 ( 34) 2,080 803 1,277 Addition information for P1. Liquidity and financing ratios for the industry are as follows: Industry Averages: Current ratio 1.25 Acid- test ratio .63 Debt to equity .63 Required: 1. Determine the following ratios for Best Buy for its fiscal year ended February, 26, 2011: (Show your calculations) a. Current ratio b. Acid- test ratio c. Debt to equity ratio d. Profit Margin Ratio 2. Using the first three ratios from requirement 1, assess Best Buy's liquidity and solvency ratios r (current ratio, acid test ratio and debt to equity ratio) relative to its industry. Are they better or worse than the industry averages? P2. For each ratio listed, identify whether the change in ratio value from 2012 to 2013 is usually regarded as favorable or unfavorable. Respond by identifying which of the two years is better 1. Profit margin 2013 9% 2012 8% 2. Debt ratio 47% 42% 3. Gross margin 34% 46% 4. Acid-test ratio 1.00 1.15 5. Accounts receivable turnover 5.5 6.7 6. Basic earnings per share $1.25 $1.10 7. Inventory turnover 3.6 3.4 8. Dividend yield 2.0% 1.2% Which year is better