Refer to the 2010 fiscal year-end financial statements of The Home Depot in Appendix A and Lowe's in Appendix B at the end of this book, or download the annual reports from the Cases section of the text's Web site at www.mhhe.com/phillips4e.
Required:
1. Was Lowe's net income for the year ended January 28, 2011, greater (or less) than The Home Depot's?
2. Was Lowe's sales revenue for the year ended January 28, 2011, greater (or less) than The Home Depot's?
3. Did Lowe's have more (or less) inventories than The Home Depot at the end of January 2011?
4. Did Lowe's have more (or less) cash than The Home Depot at the end of January 2011?
5. The Home Depot's stock is traded on the New York Stock Exchange under the symbol HD. What kind of company does this make The Home Depot? Is Lowe's the same type of business organization as The Home Depot? How can you tell?
6. Why might The Home Depot and Lowe's choose such odd dates to end their fiscal years?
7. On an overall basis, was Lowe's or The Home Depot more successful in the 2010 fiscal year?