Best Buy 2000 Annual Report Download - page 37

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35
Best Buy Co., Inc. Fiscal 2000 Annual Report
Shareholders and Board of Directors
Best Buy Co., Inc.
We have audited the accompanying consolidated balance sheets of Best Buy Co., Inc. as of February 26, 2000,
and February 27, 1999, and the related consolidated statements of earnings, changes in shareholders’ equity,
and cash flows for each of the three years in the period ended February 26, 2000. These financial statements
are the responsibility of the Company’s management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
consolidated financial position of Best Buy Co., Inc. at February 26, 2000, and February 27, 1999, and the
consolidated results of its operations and its cash flows for each of the three years in the period ended
February 26, 2000, in conformity with accounting principles generally accepted in the United States.
Minneapolis, Minnesota
March 28, 2000
Independent Auditor’s Report