Reference no: EM131794795

Problem - The following financial data were adapted from the annual report of Best Buy Inc. for the period ending February 28, 2009.

Best Buy Inc.

Accounts Payable                                             $4997

Capital Stock                                                   442

Cash                                                               498                                         

Cost of Goods Sold                                           34017

Income Tax Expense                                         674

Interest Expense                                               94

Inventories                                                       4573

Investments                                                      406

Goodwill and other intangible assets                    2698

Other Assets                                                     1429

Other expenses                                                 250

Other liabilities                                                  5673

Other revenue (net)                                           7

Property, plant, and equipment                           4174

Receivables                                                       1868

Sales                                                                45015    

Selling, general, and administrative expense        8984

Question: Prepare Best Buy's retained earnings statement for the year ending February 28, 2009. (Note: The retained earnings at March 1, 2008, was $3933. During the year, Best Buy paid dividends of $222. Also the Net Income for Best Buy is 1003.