Using an EXCEL spreadsheet, calculate Residual Income for 2011, assuming Carmaxs average cost of capital is 5%. Logically and neatly, show your work steps, and highlight in yellow the cell containing your answer. Assume that Net Income is Operating Income, and that all assets are operating assets.

Preview File Edit View Go Tools Window Help M a 2 Wed Mar 10 7:35 PM Q carmax Managerial Accounting Page 947 of 972 Sort By: Search Rank Page Order Found on 4 pages Done Exercises: Set A 21. Trend Analysis. The following condensed income statement is for CarMax, Inc., a large retailer of used vehicles. Managerial Accounting Page 947 1 match The following condensed income statement is for CarM... Page 948 2 matches Refer to the condensed income statement for CarMax, Inc., in Exerci... Page 950 3 matches Refer to the condensed income statement for CarMax, Inc., in Exerci... Page 951 1 match Refer to In which category does Car Max... Carmax, Inc. Income Statement Years Ended February 28, 2011 and February 28, 2010 (in millions) 2011 2010 S8,976 7674 $1,302 Net sales Cost of goods sold Gross margin Selling and administrative expenses Operating income Interest expense Other income (expenses; net) Income before taxes Income tax expense Net income 905 $397 3 220 5 614 233 $ 381 $7,470 6371 $1,099 819 $ 280 3 176 $ 453 171 $ 282 Required: a. Prepare a trend analysis of the income statements from 2010 to 2011. Use the format shown in as a guide. (Round computations to one decimal place.) droplr.com > how-to > productivity-tools > 5-best-snippin... MAR 10 A tv w