Lowe's Companies, Inc. reported the following information (adapted) for its fiscal year ended January 31, 2014: Requirements

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Lowe's Companies, Inc. reported the following information (adapted) for its fiscal year ended January 31, 2014:

Lowe's Companies, Inc. reported the following information (adapted) for its

Requirements
1. Compute the profit margin for the year ended January 31, 2014.
2. Compute the asset turnover for the year ended January 31, 2014.
3. Compute the return on assets for the year ended January 31, 2014.

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Financial Accounting

ISBN: 978-0133472264

5th Canadian edition

Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin

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