Assume Best Buy reports the following fiscal year income statement. Income Statement ($ millions) 2016 Revenue...

  

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Assume Best Buy reports the following fiscal year income statement. Income Statement ($ millions) 2016 Revenue $30,848 Cost of goods sold Gross profit 23,122 7,726 Selling, general and administrative expenses 6,082 Operating income 1,644 Net interest income 77 Earnings from continuing operations before income tax 1,721 expense Income tax expense 581 Net earnings $ 1,140 Forecast Best Buy's fiscal year 2017 income statement assuming the following income statement relations; cost of goods sold can be inferred as sales minus gross profit, and assume no change for all other accounts not listed below. Revenue growth Gross profit margin. 12.4% 25.0% Selling, general and administrative expense / Revenue Income tax expense/Earnings from continuing operations before income tax 19.7% 33.8% What is the forecasted net earnings for fiscal year ended 2017? a. $1,268 million b. $1,140 million c. $1,301 million d. $1,377 million Assume Best Buy reports the following fiscal year income statement. Income Statement ($ millions) 2016 Revenue $30,848 Cost of goods sold Gross profit 23,122 7,726 Selling, general and administrative expenses 6,082 Operating income 1,644 Net interest income 77 Earnings from continuing operations before income tax 1,721 expense Income tax expense 581 Net earnings $ 1,140 Forecast Best Buy's fiscal year 2017 income statement assuming the following income statement relations; cost of goods sold can be inferred as sales minus gross profit, and assume no change for all other accounts not listed below. Revenue growth Gross profit margin. 12.4% 25.0% Selling, general and administrative expense / Revenue Income tax expense/Earnings from continuing operations before income tax 19.7% 33.8% What is the forecasted net earnings for fiscal year ended 2017? a. $1,268 million b. $1,140 million c. $1,301 million d. $1,377 million

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Particulars 2016 2017 Revenue 30848 34673 LessCOGS 23122 26005 ... View the full answer