The following information is taken from the 2020 annual report for Best Buy...
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Accounting
The following information is taken from the 2020 annual report for Best Buy (amounts are in millions and Best Buy's 2020 Fiscal Year ended on February 1, 2020):
Interest expense
$
64
Net revenues
$
43,638
Inventory (Feb 1, 2019)
5,409
Investment income
47
Gain on Sale of Investments
1
Cost of goods sold
33,590
Selling, General, and Admin Expenses
7,998
Restructuring Expenses
41
Income tax expense
452
Inventory (Feb 1, 2020)
5,174
Required:
1. Prepare a multiple-step income statement for Best Buy for the year ended February 1, 2020.
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