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& practice question.pdf - Adobe Acrobat Reader DC X File Edit View Sign Window Help Home Tools practice question.pdf x (? Sign In 1 /4 O + 125% Y A Search 'Add Link' Question 1 Incomplete answer Marked out of 43.00 Export PDF V Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of Best Buy Co., Inc. E Edit PDF Income Statement, Fiscal Years Ended ($ millions) Feb. 26, 2011 Feb. 27, 2010 Revenue $ 50,272 $ 49,694 Create PDF V Cost of goods sold 37,611 37,534 Restructuring charges - cost of goods sold 24 Comment Gross profit 12,637 12,160 Selling, general and administrative expenses 10,325 9,873 Restructuring charges 198 52 Combine Files Goodwill and tradename impairment Operating income 2, 114 2.235 EDOrganize Pages Other income (expenses) Investment income and other 51 54 Redact Interest expense 87 94 Earnings before income tax expense and equity in income of affiliates 2,078 2,195 Income tax expense 714 802 Equity in income of affiliates 2 Net earnings including noncontrolling interests 1,366 1,394 Create, edit and sign PDF Net (earnings) attributable to noncontrolling interests 89 forms & agreements 77 Net earnings attributable to Best Buy Co., Inc. $ 1,277 $ 1,317 Start Free Trial Type here to search O EI X O call's 2:03 PM 10/31/2020 18& practice question.pdf - Adobe Acrobat Reader DC File Edit View Sign Window Help X Home Tools practice question.pdf x (? Sign In T 2 /4 + 50% Search 'Add Image' Balance Sheet Assets ('s millions) Feb. 26, 2017 feb. 27. 2010 Cash and cash equivalents Short term investments Receivables Merchandise Inventories Export PDF V Other current assets Total current assets Property and equipment and and buildings asehold Improvements Fixtures and equipment E Edit PDF Property under capital lease Gross property and equipment Less accumulated depreciation Net property and equipment Goodwill Tradenames, Net Create PDF V Customer Relationships. Net Equity and Other Investments Other assets Total assets Lab Ities and Equity = Comment Arrcunts payable Unredeemed giftcard liabilities Accrued compensation and related expenses Accrued Basilthe Accrued income tax Short-term debt Combine Files Current portion of long-term debt Total current I ab Titles Long-term liabilities Long-term debt Best Buy Co., Inc. Shareholders' Equity Preferred stock, $ 1.00 par value: Authorized-400,000 shares; Issued and outstanding-none Additional paid-in capital Common stock $0.10 par value: Authorized-1.0 billion shares; Issued and outstanding-392,590,050 and 418,815,000 shares, respectively EDOrganize Pages Retained earnings Accumulated other comprehensive income Total Best Buy Co. Inc. shareholders' equity Nancontroling interests Total equity Redact Total liabilities and shareholders' equity 3 18,30 Forecast Best Buy's fiscal 2012 income statement using the following relations (assume "no change" for accounts not listed). Revenue growth Cost of good self/Revenue Restructuring charges - cost of good sold Selling general and administrative expenses/Revenue Restructuring charges 20 5M Create, edit and sign PDF Goodwill and trademark Im restment income and ather forms & agreements Investment Impairment Interest expense Income tax expense/Pretax income 387 Equity in income of affiliates Net earnings attributable to noncontrolling interests/Net earnings including noncontrolling interests 65% Start Free Trial . Round all answers to the nearest whole number, . Do not use negative signs with your answers in the income statement. H Type here to search O X 2:05 PM 10/31/2020 18practice question.pdf - Adobe Acrobat Reader DC X File Edit View Sign Window Help Home Tools practice question.pdf x (? Sign In T 3 / 4 O (+ 64.1% Income Statement, Fiscal Years Ended ($ millions) 2012 Estimated Revenue 53,288 Search 'Add Image' Cost of goods sold Restructuring charges - cost of goods sold Gross profit Selling, general and administrative expenses o Restructuring charges Export PDF Goodwill and tradename impairment o o c V Operating income Other income/expenses Investment income and other E Edit PDF Interest expense Earnings before income tax expense and equity in income of affiliates Income tax expense Equity in income of affiliates Net earnings including noncontrolling interests Create PDF V 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 = Comment expenditures are purchases of property and equipment Short-term investments No change Receivables/Revenue 4.7% Merchandise inventories/Revenue 11.7% Combine Files Other current assets/Revenue 2.29% CAPEX (Increase in gross Property and equipment)/Revenue 1.5% Goodwill No change Amortization expense for Tradenames $25 Amortization expense for Customer relationships $38 EDOrganize Pages Equity and Other Investments No change Other Assets/Revenue 0.9% Accounts payable/Revenue 9.7% Unredeemed gift card liabilities/Revenue 0.9% Accrued compensation and related expenses/Revenue 1.19% Redact Accrued liabilities/Revenue 2.99% Accrued income taxes/Revenue Long-term liabilities No change Noncontrolling interests Depreciation/Prior year gross PPE 12.0% Amortization/Prior year intangible asset balance 18.7% Dividends/Net income 18.6% Long-term debt payments required in fiscal 2013 $37 Create, edit and sign PDF "increase by net income attributable to noncontrolling interests and assume no dividends forms & agreements Round all answers to the nearest whole number. . Do not use negative signs with your answers in the balance sheet. Start Free Trial H Type here to search O X 2:05 PM 10/31/2020 18& practice question.pdf - Adobe Acrobat Reader DC X File Edit View Sign Window Help Home Tools practice question.pdf x (? Sign In T 4 /4 + 52.4% Balance Sheet Search 'Add Image' 2012 Assets (5 millions) Estimated Cash and cash equivalents Short term Investments Receivables Merchandise inventories Export PDF V Other current assets Tokid current assets Property and equipment Gross property and equipment Less accumulated depreciation Net property and equipment E Edit PDF Goodwill Tradenames, Net Customer Relationships, Net Equity and Other Investments Other assets Total assets Create PDF V Liabilities and equity Accounts payable Unredeemed gift card liabilities Accrued compensation and related expenses Accrued |abilities Comment Accrued income taxes Short-term debt Current portion of long-term debt Total current Iabilities Long-term Bab lities Long-term debt Combine Files Best Buy Co., Inc. Shareholders' Equity Preferred stock, $1.00 par value: Authorized . 400,DDD shares: Issued and outstanding . none non stock, $0.10 par va 418,815,000 shares, respectively Additional paid-in capital EDOrganize Pages Retained earnings Accumulated other comprehensive income Total Best Buy Co, Inc. shareholders' equity Noncontrolling Total equity Total liabilities and Equity Redact b. What does the forecasted adjustment to balance the accou financing needs of the company? Explain. equation from part a reveal to us about the forecasted cash balance and related OBest Buy will generate sufficient cash for the coming year. The cash bala increasing total assets, reases fairly significantly, we could adjust marketable securities, OBest Buy will generate sufficient cash for the coming year. The cash balance increases fairly significantly, we could adjust marketable securities, eaving total assets unchanged. OBest Buy will not generate sufficient cash for the coming year. The cash balance decreases fairly significantly, we could adjust marketable Create, edit and sign PDF securities, leaving total assets unchanged. OBest Buy will not generate sufficient cash for the co forms & agreements increasing total assets. eases fairly significantly, we could adjust short-term debt, Please answer all parts of the question. Start Free Trial H Type here to search O X 2:06 PM 10/31/2020 18
