Exercise 3-17 Calculating ratios; Best Buy [LO3-8] Best Buy Co, Inc., is a leading retailer specializing in consumer electronics. A condensed income stateme and balance sheet for the fiscal year ended February 1,2014, are shown below. Best Buy Co., Inc Balance Sheet At February 1, 2014 (S in millions) Assets Current assets: Cash and cash equivalents Short-term investments Accounts receivable, net Merchandise inventories Other current assets S 2,868 242 1,403 5,395 938 Total current assets Noncurrent assets 10,846 3,623 Total assets $14,469 Liabilities and shareholders' equity Current liabilities: Accounts payable Other current liabilities 6,072 4,214 Total current liabilities Long-term liabilities Shareholders' equity 10,286 2,626 1,557 Total liabilities and shareholders' equity $14,469 Best Buy Co., Inc. Income Statement For the Year Ended February 1, 2014 (S in millions) $42 605