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Tech Supplies Company, Incorporated, is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended February

Tech Supplies Company, Incorporated, is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended February 1, 2020, are shown below.

Tech Supplies Company, Incorporated
Balance Sheet
At February 1, 2020
($ in millions)
Assets
Current assets:
Cash and cash equivalents $ 2,066
Accounts receivable (net) 1,207
Inventory 5,060
Other current assets 410
Total current assets 8,743
Long-term assets 3,678
Total assets $ 12,421
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable $ 4,900
Other current liabilities 3,375
Total current liabilities 8,275
Long-term liabilities 2,234
Shareholders equity 1,912
Total liabilities and shareholders equity $ 12,421
Tech Supplies Company, Incorporated
Income Statement
For the Year Ended February 1, 2020
($ in millions)
Revenues $ 39,573
Costs and expenses 38,162
Operating income 1,411
Other income (expense)* (74)
Income before income taxes 1,337
Income tax expense 638
Net income $ 699

*Footnote asteriskIncludes $161 of interest expense.

Required:

1-a. Calculate the current ratio for Tech Supplies for its fiscal year ended February 1, 2020.

1-b. Calculate the acid-test ratio for Tech Supplies for its fiscal year ended February 1, 2020.

1-c. Calculate the debt to equity ratio for Tech Supplies for its fiscal year ended February 1, 2020.

1-d. Calculate the times interest earned ratio for Tech Supplies for its fiscal year ended February 1, 2020.

Note: For all requirements, round your answers to 2 decimal places.

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