Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following information from Dollar Tree, Inc., Balance Sheet as of January 29, 2022 and Income Statement for the year ended January 29,
Use the following information from Dollar Tree, Inc., Balance Sheet as of January 29, 2022 and Income Statement for the year ended January 29, 2022 to answer the next four questions. Note that Wages payable and Income taxes payable will be paid within 1 year. Dollar Tree's fiscal year ends on the Saturday closest to January 31. Accounts are listed in alphabetical order. All amounts are in millions of dollars. DOLLAR TREE Accounts payable 1,884 Income taxes payable 83 Accounts receivable 113 Interest expense 179 Accumulated depreciation 5,364 Inventories 4,367 Cash 985 Long-term debt 3,417 Common stock 1,246 Marketing expense 925 Cost of sales 18,584 Net sales 26,321 Current portion of long-term debt 1,408 Other current assets 144 Depreciation expense 672 Other current liabilities 678 Dividends 0 Other long-term liabilities 6,409 General and administrative expenses 4,329 Property, plant and equipment 9,841 Goodwill and other long-term assets 11,636 Retained earnings 6,473 304 Wages payable 124 Income tax expense 3. Calculate Dollar Tree's Total Current Assets as of January 29, 2022. a. $1,242 million b. $5,465 million c. $5,609 million d. $10,973 million 4. Calculate Dollar Tree's Total Current Liabilities as of January 29, 2022. a. $9,541 million b. $4,177 million c. $2,769 million d. $2,091 million 5. Calculate Dollar Tree's Total Assets as of January 29, 2022. a. $10,086 million b. $16,113 million C. $21,722 million
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started