Bargain Deal, Inc., Is a leading retailer specializing in consumer electronics. A condensed Income statement and...
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Bargain Deal, Inc., Is a leading retailer specializing in consumer electronics. A condensed Income statement and balance sheet for the fiscal year ended January 28, 2017, are shown below. Current assets: Cash and cash equivalents Short-term investments Accounts receivable (net) Inventory Other current assets Total current assets Bargain Deal, Inc. Balance Sheet At January 28, 2017 ($ in millions) Assets Long-term assets. Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 2,156 1,323 1,252 5,069 428 10,228 3,723 $13,951 $ 5,350 4,275 9,625 2,252 2,074 $13,951 www.gman wwway Income Statement For the Year Ended January 28, 2017 ($ in millions) Revenues Costs and expenses Operating income Other income (expense)* Income before income taxes Income tax expense Net income $39,618 38,171 1,447 $ (83) 1,364 773 591 *Includes $242 of Interest expense. Required: 1-a. Calculate the current ratio for Bargain Deal for its fiscal year ended January 28, 2017. 1-b. Calculate the acid-test ratio for Bargain Deal for its fiscal year ended January 28, 2017. 1-c. Calculate the debt to equity ratio for Bargain Deal for Its fiscal year ended January 28, 2017. 1-d. Calculate the times interest earned ratio for Bargain Deal for its fiscal year ended January 28, 2017. Bargain Deal, Inc., Is a leading retailer specializing in consumer electronics. A condensed Income statement and balance sheet for the fiscal year ended January 28, 2017, are shown below. Current assets: Cash and cash equivalents Short-term investments Accounts receivable (net) Inventory Other current assets Total current assets Bargain Deal, Inc. Balance Sheet At January 28, 2017 ($ in millions) Assets Long-term assets. Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 2,156 1,323 1,252 5,069 428 10,228 3,723 $13,951 $ 5,350 4,275 9,625 2,252 2,074 $13,951 www.gman wwway Income Statement For the Year Ended January 28, 2017 ($ in millions) Revenues Costs and expenses Operating income Other income (expense)* Income before income taxes Income tax expense Net income $39,618 38,171 1,447 $ (83) 1,364 773 591 *Includes $242 of Interest expense. Required: 1-a. Calculate the current ratio for Bargain Deal for its fiscal year ended January 28, 2017. 1-b. Calculate the acid-test ratio for Bargain Deal for its fiscal year ended January 28, 2017. 1-c. Calculate the debt to equity ratio for Bargain Deal for Its fiscal year ended January 28, 2017. 1-d. Calculate the times interest earned ratio for Bargain Deal for its fiscal year ended January 28, 2017.
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1a Calculate the current ratio Current Assets Cash and cash equivalents Shortterm investments Accoun... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Posted Date:
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