Refer to the financial statements of The Home Depot for the 2010 fiscal year in Appendix A

Question:

Refer to the of The Home Depot for the 2010 fiscal year in Appendix A at the end of this book, or download the annual report from the Cases section of the text's Web site at www.mhhe.com/phillips4e.
Required:
1. What amount of net income was reported (in millions) for the year ended January 30, 2011?
a. $67,997
b. $14,995
c. $5,273
d. $3,338
2. What amount of sales revenue (in millions) was earned for the year ended January 30, 2011?
a. $67,997
b. $14,995
c. $5,273
d. $3,338
3. What was the cost (in millions) of the company's inventory on January 30, 2011?
a. $44,693
b. $25,060
c. $10,625
d. $10,188
4. How much cash (in millions) does The Home Depot have on January 30, 2011?
a. $14,995
b. $1,421
c. $878
d. $545
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...