Problem - The following financial data were adapted from the annual report of Best Buy Inc. for the period ending February 28, 2009.
Best Buy Inc.
Accounts Payable $4997
Capital Stock 442
Cash 498
Cost of Goods Sold 34017
Income Tax Expense 674
Interest Expense 94
Inventories 4573
Investments 406
Goodwill and other intangible assets 2698
Other Assets 1429
Other expenses 250
Other liabilities 5673
Other revenue (net) 7
Property, plant, and equipment 4174
Receivables 1868
Sales 45015
Selling, general, and administrative expense 8984
Question: Prepare Best Buy's retained earnings statement for the year ending February 28, 2009. (Note: The retained earnings at March 1, 2008, was $3933. During the year, Best Buy paid dividends of $222. Also the Net Income for Best Buy is 1003.