Balance sheet relations. Selected balance sheet amounts for Lowe's, a retailer of home construction and repair supplies,
Question:
Balance sheet relations. Selected balance sheet amounts for Lowe's, a retailer of home construction and repair supplies, for four recent years appear below (amounts in millions):
Year 9 Year 10 Year 11 Year 12 Noncurrent Assets $3,759 $5,302 $ 7,201 ?
Shareholders' Equity ? 4,695 Total Assets ? ?
Current Liabilities 1,765 2,386 Current Assets 2,586 ?
Noncurrent Liabilities 1,444 ?
Total Liabilities and Shareholders' Equity ? 9,012 a Current Assets - Current Liabilities = $1,246.
b Current Assets - Current Liabilities = $1,903.
a. Compute the missing balance sheet amounts far each of the four years.
b. How did the mix of total assets (that is. the proportion of current versus noncurrent assets) change over the four-year period'.' What might account for such a change?
c. How did the mix of current liabilities, noncurrent liabilities, and shareholders' equit> change over the four-year period? What might account for such a change?
Step by Step Answer:
Financial Accounting Introduction To Concepts Methods And Uses
ISBN: 9780324222975
11th Edition
Authors: Clyde P. Stickney, Roman L. Weil