Question
Use the following information from Ulta Beauty, Inc.s financial statements for the fiscal year ended January 30, 2021 to answer the next four questions. Assume
Use the following information from Ulta Beauty, Inc.s financial statements 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.
Accounts payable | 477 |
| Merchandise inventories | 1,168 |
Accounts receivable | 193 |
| Other current liabilities | 296 |
Accumulated depreciation | 1,572 |
| Other long-term assets | 1,579 |
Cash | 1,046 |
| Other long-term liabilities | 103 |
Common stock | 848 |
| Prepaid expenses | 108 |
Cost of goods sold | 4,203 |
| Property and equipment | 2,568 |
Depreciation expense | 298 |
| Retained earnings | 1,152 |
Dividends | 0 |
| Sales | 6,152 |
Income tax expense | 55 |
| Selling and administrative expenses | 1,414 |
Interest expense | 6 |
| Unearned revenue | 275 |
Long-term debt | 1,643 |
| Wages payable | 296 |
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