Following are selected accounts for Best Buy, Inc., for the fiscal year ended February 2, 2019. (a) Indicate whether each account appears on the balance sheet (B) or income statement (I). Best Buy, Inc. ($ millions)Amount Classification  Sales $42,879 Answer B I    Accumulated depreciation 6,690 Answer B I  Depreciation expense   770  Answer B I  Retained earnings  2,985  Answer B I   Net income 1,464 Answer B I   Property, plant & equipment, net 2,510 Answer B I   Selling, general and admin expense 8,015 Answer B I  Accounts receivable 1,015  AnswerB I   Total liabilities 9,595  Answer B I  Stockholders' equity  3,306  Answer B  I (b) Using the data, compute total assets and total expenses. Total Assets Answer Total Expenses Answer

Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:   WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions)   2020 2019 2018 Current assets $ 679   $ 898   $ 743   Other assets   2,414     1,921     1,720   Total assets $ 3,093   $ 2,819   $ 2,463   Current liabilities $ 563   $ 804   $ 711   Long-term liabilities   1,522     988     833   Stockholders’ equity   1,008     1,027     919   Total liabilities and stockholders' equity $ 3,093   $ 2,819   $ 2,463       WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions)   2020 2019 Income statement data:             Sales $ 3,051   $ 2,914   Operating income   297     311   Interest expense   85     66   Net income   194     189   Other data:             Average number of common shares outstanding   41.4     46.8   Total dividends paid $ 51.0   $ 52.4…

he comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux’s accounting records is provided also.  DUX COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands)   2021   2020   Assets                 Cash $  195     $  134     Accounts receivable    60        62     Less: Allowance for uncollectible accounts   (4 )     (3 )   Dividends receivable    15        8     Inventory    73        62     Long-term investment    45        40     Land    112        70     Buildings and equipment    351        376     Less: Accumulated depreciation   (55 )     (74 )     $  792     $  675     Liabilities                 Accounts payable $  25     $  32     Salaries payable    8        11     Interest payable    10        8     Income tax payable    13        14     Notes payable    42        0     Bonds payable    263        190     Less: Discount on…

Below are the Income Statement and Balance Sheet for Palmer Corporation               for the years ended 2020 and 2021. Calculate the liquidity ratios in the table to the right               for the year ended 2021.                               Palmer Corporation   Comparative Income Statement   For the Years Ended December 31, 2021 and 2020         2021   2020           Amount   Amount       Sales   $5,750,900   $4,894,800       Cost of goods sold   3,646,700   3,195,600       Gross profit   2,104,200   1,699,200       Selling expenses   775,500   688,700       Administrative expenses   863,900   815,200       Total operating expenses   1,639,400   1,503,900       Income from operations   464,800   195,300       Other income   102,500   84,600       Income before income tax   567,300   279,900       Income tax expense   200,600   101,200       Net income   $366,700   $178,700                                     Palmer Corporation…

The current sections of Oriole Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Oriole's net income for 2022 was $152,400. Depreciation expense was $26,900. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities Net Income 2022 $104,800 Depreciation Expense Decrease in Inventory 81,500 169,000 Increase in Prepaid Expenses Cash Flows from Operating Activities Decrease in Accounts Receivable $14,500 Adjustments to reconcile net income to Decrease in Accounts Payable 84,400 $98,900 Net Cash Provided by Operating Activities 26,900 $382,200 $380,000 Prepare the operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) 2021 Increase in Accrued Expenses Payable $96,200…

The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) $ 27,583 17,585 1,418 Net sales Costs Depreciation Earnings before interest and taxes Interest expense (ЕBIT) $ 8,580 533 Pretax income 8,047 Federal taxes (@ 21%) 1,690 Net income $ 6,357 BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) Assets 2019 2018 Liabilities and Shareholders Equity 2019 2018 Current assets Current liabilities $ 2,352 1,351 Debt due for repayment Accounts payable Cash and marketable securities $ 2,352 $ $ 3,419 $ 3,419 415 3,159 $ 3,574 Receivables 1,391 Inventories 138 133 Total current liabilities 1,105 $ 4,986 Other current assets 632 Total current assets $ 4,468 Long-term debt Other long-term liabilities $12,150 2,973 $18,697 14,406 Fixed assets $13,649 Property, plant, and equipment Intangible assets (goodwill) Other long-term assets 3,073 $20,141 15,357…

Begin by calculating the gross profit for each​ year, then prepare a horizontal analysis of revenues and gross profitlong dash—both in dollar amounts and in percentageslong dash—for 20192019 and 20182018. ​(Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal​ place, X.X%. Use a minus sign or parentheses to indicate a​ decrease.)   McDonald Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018                 (Amounts in millions) 2019 2018 2017 Revenues $9,575 $9,300 $8,975 Cost of Goods Sold 6,250 6,000 5,890 Gross Profit

Identify and Compute Net Operating Assets Following is the balance sheet for Lowe’s Companies Inc. LOWE’S COMPANIES INC.   Consolidated Balance Sheet   $ millions, except par value Feb. 1, 2019   Current assets   Cash and cash equivalents $533 Short-term investments 227 Merchandise inventory—net 13,107 Other current assets 979 Total current assets 14,846 Property, less accumulated depreciation 19,234 Long-term investments 267 Deferred income taxes—net 307 Goodwill 316 Other assets 1,038 Total assets $36,008 Current liabilities   Short-term borrowings $753 Current maturities of long-term debt 1,158 Accounts payable 8,639 Accrued compensation and employee benefits 691 Deferred revenue 1,356 Other current liabilities 2,530 Total current liabilities 15,127 Long-term debt, excluding current maturities 15,017 Deferred revenue—extended protection plans 863 Other liabilities 1,199 Total liabilities 32,206 Shareholders’ equity…

Data from the financial statements of Kroger King and SuperDeal, Inc., are presented below (in millions):   Kroger King SuperDeal, Inc. Total liabilities, 2019 $20,261 $13,549 Total liabilities, 2018 18,052 15,023 Total assets, 2019 25,093 16,436 Total assets, 2018 23,257 17,604 Revenue, 2019 76,733 40,851 Net income, 2019 70 393 To the nearest hundredth, what is the 2019 debt-to-total-assets ratio for SuperDeal, Inc.? Select one: a. 4.96 b. 0.21 c. 0.79 d. 4.69

he current sections of Skysong, Inc.’s balance sheets at December 31, 2021 and 2022, are presented here.Skysong’s net income for 2022 was $152,700. Depreciation expense was $27,600.     2022   2021 Current assets            Cash   $107,600   $95,900    Accounts receivable   78,400   89,400    Inventory   167,800   172,100    Prepaid expenses   26,800   22,000       Total current assets   $380,600   $379,400 Current liabilities            Accrued expenses payable   $15,800   $8,600    Accounts payable   84,900   95,500       Total current liabilities   $100,700   $104,100 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)