Refer to Best Buy’s financial statements in Appendix A to answer the following.

1. Using fiscal 2007 as the base year, compute trend percents for fiscal years 2007, 2008, and 2009 for revenues, cost of sales, selling general and administrative expenses, income taxes, and net income. (Round to the nearest whole percent.)

2. Compute common-size percents for fiscal years 2009 and 2008 for the following categories of assets: (a) total current assets, (b) property and equipment, net, and (c) goodwill. (Round to the nearest tenth of a percent.)

3. Comment on any notable changes across the years for the income statement trends computed in part 1 and the balance sheet percents computed in part 2.