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The March 29, 2012, edition of the Wall Street Journal Online contains an article by Miguel Bustillo entitled, "Best Buy Forced to Rethink Big Box." The article explains how the 1,100 giant stores, which enabled Best Buy to obtain its position as the largest retailer of electronics, are now reducing the company's profitability and even threatening its survival. The problem is that many customers go to Best Buy stores to see items but then buy them for less from online retailers. As a result, Best Buy recently announced that it would close 50 stores and switch to smaller stores. However, some analysts think that these changes are not big enough. Suppose the following data were extracted from the 2022 and 2017 annual reports of Best Buy. (All amounts are in millions.) Total assets at year-end Net sales Net income 2022 (b) $17,849 50,272 1,277 2021 $18,302 Using the data above, answer the following questions. 2017 $11,864 30,848 1,140 2016 $10,294 Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, e.g. 15.1% and asset turnover ratio to 2 decimal places, e.g. 15.21.)

The March 29, 2012, edition of the Wall Street Journal Online contains an article by Miguel Bustillo entitled, "Best Buy Forced to Rethink Big Box." The article explains how the 1,100 giant stores, which enabled Best Buy to obtain its position as the largest retailer of electronics, are now reducing the company's profitability and even threatening its survival. The problem is that many customers go to Best Buy stores to see items but then buy them for less from online retailers. As a result, Best Buy recently announced that it would close 50 stores and switch to smaller stores. However, some analysts think that these changes are not big enough. Suppose the following data were extracted from the 2022 and 2017 annual reports of Best Buy. (All amounts are in millions.) Total assets at year-end Net sales Net income 2022 (b) $17,849 50,272 1,277 2021 $18,302 Using the data above, answer the following questions. 2017 $11,864 30,848 1,140 2016 $10,294 Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, e.g. 15.1% and asset turnover ratio to 2 decimal places, e.g. 15.21.)

Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter6: Statistical Inference
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Current Attempt in Progress The March 29, 2012, edition of the Wall Street Journal Online contains an article by Miguel Bustillo entitled, "Best Buy Forced to Rethink Big Box." The article explains how the 1,100 giant stores, which enabled Best Buy to obtain its position as the largest retailer of electronics, are now reducing the company's profitability and even threatening its survival. The problem is that many customers go to Best Buy stores to see items but then buy them for less from online retailers. As a result, Best Buy recently announced that it would close 50 stores and switch to smaller stores. However, some analysts think that these changes are not big enough. Suppose the following data were extracted from the 2022 and 2017 annual reports of Best Buy. (All amounts are in millions.) Total assets at year-end Net sales Net income 2022 (b) $17,849 50,272 1.277 Using the data above, answer the following questions. 2021 2022 $18,302 41 2017 $11,864 30,848 1,140 14,776 Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, e.g. 15.1% and asset turnover ratio to 2 decimal places, e.g. 15.21.) Screenshot 2016 $10,294 i 2017 MAR .
Transcribed Image Text:Current Attempt in Progress The March 29, 2012, edition of the Wall Street Journal Online contains an article by Miguel Bustillo entitled, "Best Buy Forced to Rethink Big Box." The article explains how the 1,100 giant stores, which enabled Best Buy to obtain its position as the largest retailer of electronics, are now reducing the company's profitability and even threatening its survival. The problem is that many customers go to Best Buy stores to see items but then buy them for less from online retailers. As a result, Best Buy recently announced that it would close 50 stores and switch to smaller stores. However, some analysts think that these changes are not big enough. Suppose the following data were extracted from the 2022 and 2017 annual reports of Best Buy. (All amounts are in millions.) Total assets at year-end Net sales Net income 2022 (b) $17,849 50,272 1.277 Using the data above, answer the following questions. 2021 2022 $18,302 41 2017 $11,864 30,848 1,140 14,776 Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, e.g. 15.1% and asset turnover ratio to 2 decimal places, e.g. 15.21.) Screenshot 2016 $10,294 i 2017 MAR .
(b) Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, e.g. 15.1% and asset turnover ratio to 2 decimal places, e.g. 15.21.) Profit Margin Asset Turnover Return on Assets 2022 eTextbook and Media Save for Later 41 % times 14,776 % Screenshot 2017 % times (c) The parts of this question must be completed in order. This part will be available when you complete the part above. MAR ! % Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:(b) Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, e.g. 15.1% and asset turnover ratio to 2 decimal places, e.g. 15.21.) Profit Margin Asset Turnover Return on Assets 2022 eTextbook and Media Save for Later 41 % times 14,776 % Screenshot 2017 % times (c) The parts of this question must be completed in order. This part will be available when you complete the part above. MAR ! % Attempts: 0 of 3 used Submit Answer
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