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Analyzing Forecasting and interpreting Both income Statement and Balance Sheet Following are the income statements and balance sheets of Best Buy Co Inc. Cost of gooth sold Restructuring charges-cost of goods sold Gross profe eling gmeral and administrative eapenons Resmucturing charges Other income lexpenses Earnings before income tas espense and equity in income of atlates Equity in income of affates Net earmings Including noncontroling interes Net carmingble to nancoreroling interests Net carnings attriburable to Best Buy Co.In Cash and cash equrvalents Short-term investments 1,309$1,826 2482020 Property and equipment Land and tuildings Leasehoild improvements utures and equipment Property under captd lease Gross property and equipment Less accunulaned depreciation Net property and equpmene 453 Equity and Other esoments Other assets otal asse Liabilities and Equty Accounts payable Unredeemed ghcard es 17.849 relres espenmes ued compensation and Long-term lablites Lone ten detr 1353 and 418815,000 shares, emspectively 6 372 Tatal equity altes and shareholiders' eqauny Forecast Best Buy's fiscal 2012 income statement using the following relations (assume "no change for accourts not listed. Cost of good solRevenue Resoructuring charges-cost of good sold Resoructuring charges Round all answers to the nearest whole number. De.not use nsgative signs with your answers in the income statement 2012 Income Statement, Fiscal Years Cos of goods sold Restrutuing chages cost of goods sold Gruss pro Restreturing charges Operating income Tamings belore income tax espmse and equity in income of ah aces Forecast Best Buy's fecal 2012 balance sheet using the following relations (assume "no change" for accounts not listed) Assume that all capital expendtures are purchases of property and equipment Otver current asset/ilevenue No thange Amorsicaion expense for Tradenames for Customer Equity and Other Investments No thange Accrued income Long term kabilides tasevRevenue Depreciatsion/Prior year gross P 2013 ong-term delt payments requred in L ong-term delt paymerts requred in scal 2013 Round answers to the nearest whole number. De.not.use.negatve sigos with your answers in the balance sheet . Cash and cash equvalents Property and equipmen Gros property and equipment Net prepeny and equipment Custumer Relacionships, Net Equity and Oer ivestments Liablities and equity Accounts payoblk unredeemed ght card labes Accrued compensation and relubed experses Accrved lablities Short-derm Cument partion af long term dect Long term labiloes Long term debt Coneingences and Connenes None 13 iest Bay Co. Inc. Shareholders Equty Preferred seock, 11.00 par valut Authorized 400,000 shares bsued and austanding none Common stock, so.10 par value. Authorited-10bilon shares: ssued and cutstanding 992595,000 and 414 815.000 shares, respectively Addisonal paid in capial etained carsng Accumuluted other Total labilties and Equty b. What does the forecasted adjustment to balance the accounting equation frorm part a reveal to us about the forecasted cash balance and related financing needs of the company? Explain. Best Buy will generate sufficient cash for the coming year. The cash balance decreases fairly significarvthy, we could adjust marketable securities, increasing total assets Best Buy will generate sufficient cash for the coming year. The cash balance increases fairly significantly, we could adjust marketable securities, leaving total assets unchanged Best Buy will not generate sufficient cash for the coming year. The cash balance decreases fairly significantly, we could adjust marketable securities, leaving total assets unchanged Best Buy will not generate sufficient cash for the coming year. The cash balance decreases fairly significantly, we could adjust short-term debt, increasing total assets. Check Analyzing Forecasting and interpreting Both income Statement and Balance Sheet Following are the income statements and balance sheets of Best Buy Co Inc. Cost of gooth sold Restructuring charges-cost of goods sold Gross profe eling gmeral and administrative eapenons Resmucturing charges Other income lexpenses Earnings before income tas espense and equity in income of atlates Equity in income of affates Net earmings Including noncontroling interes Net carmingble to nancoreroling interests Net carnings attriburable to Best Buy Co.In Cash and cash equrvalents Short-term investments 1,309$1,826 2482020 Property and equipment Land and tuildings Leasehoild improvements utures and equipment Property under captd lease Gross property and equipment Less accunulaned depreciation Net property and equpmene 453 Equity and Other esoments Other assets otal asse Liabilities and Equty Accounts payable Unredeemed ghcard es 17.849 relres espenmes ued compensation and Long-term lablites Lone ten detr 1353 and 418815,000 shares, emspectively 6 372 Tatal equity altes and shareholiders' eqauny Forecast Best Buy's fiscal 2012 income statement using the following relations (assume "no change for accourts not listed. Cost of good solRevenue Resoructuring charges-cost of good sold Resoructuring charges Round all answers to the nearest whole number. De.not use nsgative signs with your answers in the income statement 2012 Income Statement, Fiscal Years Cos of goods sold Restrutuing chages cost of goods sold Gruss pro Restreturing charges Operating income Tamings belore income tax espmse and equity in income of ah aces Forecast Best Buy's fecal 2012 balance sheet using the following relations (assume "no change" for accounts not listed) Assume that all capital expendtures are purchases of property and equipment Otver current asset/ilevenue No thange Amorsicaion expense for Tradenames for Customer Equity and Other Investments No thange Accrued income Long term kabilides tasevRevenue Depreciatsion/Prior year gross P 2013 ong-term delt payments requred in L ong-term delt paymerts requred in scal 2013 Round answers to the nearest whole number. De.not.use.negatve sigos with your answers in the balance sheet . Cash and cash equvalents Property and equipmen Gros property and equipment Net prepeny and equipment Custumer Relacionships, Net Equity and Oer ivestments Liablities and equity Accounts payoblk unredeemed ght card labes Accrued compensation and relubed experses Accrved lablities Short-derm Cument partion af long term dect Long term labiloes Long term debt Coneingences and Connenes None 13 iest Bay Co. Inc. Shareholders Equty Preferred seock, 11.00 par valut Authorized 400,000 shares bsued and austanding none Common stock, so.10 par value. Authorited-10bilon shares: ssued and cutstanding 992595,000 and 414 815.000 shares, respectively Addisonal paid in capial etained carsng Accumuluted other Total labilties and Equty b. What does the forecasted adjustment to balance the accounting equation frorm part a reveal to us about the forecasted cash balance and related financing needs of the company? Explain. Best Buy will generate sufficient cash for the coming year. The cash balance decreases fairly significarvthy, we could adjust marketable securities, increasing total assets Best Buy will generate sufficient cash for the coming year. The cash balance increases fairly significantly, we could adjust marketable securities, leaving total assets unchanged Best Buy will not generate sufficient cash for the coming year. The cash balance decreases fairly significantly, we could adjust marketable securities, leaving total assets unchanged Best Buy will not generate sufficient cash for the coming year. The cash balance decreases fairly significantly, we could adjust short-term debt, increasing total assets. Check

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