Question: Presenting an Income Statement and Computing Key Ratios Assume Best Buy Co., Inc., reported the following amounts in its February 1 , 2014, and February

 Presenting an Income Statement and Computing Key Ratios Assume Best Buy

Presenting an Income Statement and Computing Key Ratios Assume Best Buy Co., Inc., reported the following amounts in its February 1 , 2014, and February 2, 2013, financial statements. Sales revenue $63,494 $52,902 Cost of sales 50,098 43,641 Net income (loss) 7,963 7,089 Total assets 38,599 33,652 Stockholders' equity 7,966 6,641 Required a. Prepare an income statement for Best Buy for the year ended February 1 , 2014, using the format illustrated in Exhibit 1.8 {found in Chapter 1 of the textbook on page 13). BEST BUY CO.. INC. income Statement [5 millions]- For Year Ended February 1_. 2014 00000 b. Calculate Best Buy's return on equity for the year ended February 1,2014. (Round your answer to one decimal place. Ex: 0.0345 = 3.5%.] O % c. Compute Best Buy's debt-to-equity ratio as of February 1, 2014. (Round your answer to one decimal place.) 0

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