E12.9. Analysis of Changes in Operating Profitability: Home Depot, Inc. (Medium) Comparative income statements and balance sheets
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E12.9. Analysis of Changes in Operating Profitability: Home Depot, Inc. (Medium) Comparative income statements and balance sheets for the warehouse retailer Home Depot are given in Exercise E11.10 in Chapter 11 for fiscal year 2005. Reformulate those state- ments and explain what determined the change in operating profitability (RNOA) from 2004 to 2005. The tax rate for 2005 is 37.7 percent, and 38.2 percent for 2004. Real World Connection See Exercises E5.12, E9.10, E11.10, E14.13 and E14.14 and Minicase M4.1.
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Related Book For 
Financial Statement Analysis And Security Valuation
ISBN: 9780071267809
4th International Edition
Authors: Penman-Stephen-H, Steven Penman
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