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The following information is taken from the 2020 annual report for Best Buy (amounts are in millions and Best Buy's 2020 Fiscal Year ended on
The following information is taken from the 2020 annual report for Best Buy (amounts are in millions and Best Buy's 2020 Fiscal Year ended on February 1, 2020):
Interest expense | $ | 64 | Net revenues | $ | 43,638 | |||
Inventory (Feb 1, 2019) | 5,409 | Investment income | 47 | |||||
Gain on Sale of Investments | 1 | Cost of goods sold | 33,590 | |||||
Selling, General, and Admin Expenses | 7,998 | Restructuring Expenses | 41 | |||||
Income tax expense | 452 | Inventory (Feb 1, 2020) | 5,174 | |||||
Required:
1. Prepare a multiple-step income statement for Best Buy for the year ended February 1, 2020.
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