The following information is taken from the 2020 annual report for Best Buy (amounts are...
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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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