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[The following information applies to the questions displayed below) Fausett Electronics, Inc., headquartered in Richfield, Minnesota, is one of the leading consumer electronics retailers, operating
[The following information applies to the questions displayed below) Fausett Electronics, Inc., headquartered in Richfield, Minnesota, is one of the leading consumer electronics retailers, operating more than 1,000 stores in the United States, Europe, Canada, China, and Mexico. The following was reported in a recent annual report: CONSOLIDATED BALANCE SHEETS ($ in millions) Current Year Prior Year ASSETS Property and Equipment $ 767 2,018 4,064 120 Land and bulldings S 728 1,748 3,039 67 5,582 2.285 3,297 Fixtures and equipment Property under capital lease Less accumulated depreclatiorn Net property and equipment 2.775 4,194 value: Required information 1.42 points Required 1. Assuming that Best Buy did not sell any property, plant, and equipment in the current year, what was the amount of depreciation expense recorded during the current year? (Enter your answer in millions.) n expense million
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