Answered step by step
Verified Expert Solution
Question
1 Approved Answer
($ millions) Feb. 1, 2020 Feb. 2, 2019 Assets Cash and cash equivalents Inventory Other current assets Total current assets Property and equipment, net Operating
(\$ millions) Feb. 1, 2020 Feb. 2, 2019 Assets Cash and cash equivalents Inventory Other current assets Total current assets Property and equipment, net Operating lease assets Other noncurrent assets Total assets Liabilities and shareholders' investment Accounts payable Accrued and other current liabilities Current portion of long-term debt and other borrowings Total current liabilities Long-term debt and other borrowings \begin{tabular}{|r|r|} \hline$2,577 & $1,556 \\ \hline 8,992 & 9,497 \\ \hline 1,333 & 1,466 \\ \hline 12,902 & 12,519 \\ \hline 26,283 & 25,533 \\ \hline 2,236 & 1,965 \\ \hline 1,358 & 1,273 \\ \hline$42,779 & $41,290 \\ \hline \hline \end{tabular} Noncurrent operating lease liabilities Deferred income taxes Other noncurrent liabilities Total noncurrent liabilities Total shareholders' investment Total liabilities and shareholders' investment a. Compute the Company's current ratio and quick ratio on February 1, 2020, and February 2,2019 . Comment on any observed trends. improved between 2019 and 2020. The Company's current assets modestly and its current liabilities The biggest changes were an in cash and equivalents in current assets and a in the current portion of long-term debt and other borrowings under current liabilities. b. Compute the Company's times interest earned for the year ended February 1, 2020, and its debt-to-equity ratios on February 1, 2020, and February 2, 2019. Comment on any trends observed. The Company's debt-to-equity slightly
Step 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