Need help with what I got wrong, please.
Homework Answers
A. Do not use minus sign
|
Best Buy co. 1st February 2014 |
||||
| Sales revenue | $63,494 | |||
| cost of sales | $50,098 | |||
| Gross profit | $13,396[$63,494-50,098] | |||
| Other operating expenses | $5,433[$13,396-7,963] | |||
| Net income | $7,963 | |||
b.return on equity
Net income/shareholder's equity
=$7,963/$7,966
=100% [round off to one decimals]
c.debt ot equity
=debt/equity
debt= assets-equity
=$38,599-7,966
=$30,633
Debt to equity = $30,633/$7,966
=3.9 [round off to one decimals]
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