Prepare best buy income statement for the year ending

Reference no: EM131526187

Question: The following financial data were adapted from the annual report of Best Buy Inc. for the period ending February 28, 2004:

In millions

Accounts payable $ 2,535

Accrued liabilities 1,598

Capital stock 954

Cash 2,600

Cost of goods sold 18,350

Income taxes 496

Interest expense and other items 103

Inventories 2,607

Goodwill and other intangible assets 514

Other assets 344

Other liabilities 1,097

Property, plant, and equipment 2,244

Receivables 343

Sales 24,547

Selling, general, and administrative expenses 4,893

Instructions: 1. Prepare Best Buy's income statement for the year ending February 28, 2004.

2. Prepare Best Buy's retained earnings statement for the year ending February 28, 2004.

3. Prepare a balance sheet as of February 28, 2004, for Best Buy.

Reference no: EM131526187

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