Reference no: EM13591151

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

• In Millions
• Accounts payable $4,997
• Capital stock 442
• Cash 498
• Cost of goods sold 34,017
• Income tax expense 674
• Interest expense 94
• Inventories 4,573
• Investments 406
• Goodwill and other intangible assets 2,698
• Other assets 1,429
• Other expenses 250
• Other liabilities 5,673
• Other revenue (net) 7
• Property, plant, and equipment 4,174
• Receivables 1,868
• Sales 45,015
• Selling, general, and administrative expenses 8,984

1. Prepare Best Buy's retained earnings statement for the year ending February 28, 2009. (Note: the retained earnings at March 1, 2008 were $3,933. During the year, Best Buy paid dividends of $222.)

2. Prepare a balance sheet as of February 28, 2009 for Best Buy.