Question
Use the following information from Designer Brands, Inc. Balance Sheet as of January 30, 2021 and Income Statement for the fiscal year ended January
Use the following information from Designer Brands, Inc. Balance Sheet as of January 30, 2021 and Income Statement for the fiscal year ended January 30, 2021 to answer the next four questions. Assume Prepaid expenses will be used up within a year, Wages payable will be paid within a year and Unearned revenue will be earned within a year. Accounts are listed in alphabetical order. All amounts are in millions of dollars. DESIGNER BRANDS Accounts payable 245 Other current liabilities 116 Accounts receivable 196 Other long-term assets 900 Accumulated depreciation 840 Other long-term liabilities 709 Cash 60 Prepaid expenses and other current assets 48 Common stock 190 Property and equipment 1,136 Cost of goods sold 1,923 Retained earnings 53 Depreciation expense 88 Sales 2,235 Dividends Income tax expense 19 Selling, general and administrative expenses 665 24 Short-term debt 308 Interest expense Long-term debt Merchandise inventories 24 Short-term investments 272 Unearned revenues 34 473 Wages payable 50 3. Calculate Designer Brands' Total Current Assets as of January 30, 2021. a. $815 million b. $781 million c. $733 million d. $729 million 4. Calculate Designer Brands' Total Assets as of January 30, 2021. a. $1,977 million b. $2,876 million c. $3,605 million d. $3,657 million
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