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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
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. Current assets: Tech Supplies Company, Incorporated Balance Sheet At February 1, 2020 ($ in millions) Assets Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Long-term assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity Revenues Tech Supplies Company, Incorporated Income Statement For the Year Ended February 1, 2020 Costs and expenses Operating income ($ in millions) Other income (expense) Income before income taxes Income tax expense Net income $ 39,613 38,170 1,443 (82) 1,361 758 $ 603. $ 2,146 1,247 5,068 426 8,887 3,718 $ 12,605 $ 5,300 4,175 9,475 2,250 880 $ 12,605 "Includes $233 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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