Answer the following questions by referring to the financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2019 for The Home Depot runs from February 4, 2019, to February 2,2020 . As with many retail companies, The Home Depot labels the period "Fiscal 2019 " even though it ends in the 2020 calendar year. The label "Fiscal 2019" is appropriate because Fiscal 2019 includes 11 months from the 2019 calendar year. The Home Depot explains its choice of fiscal period in Note 1 to its financial statements.) Required: 1. What amount of net income was reported (in millions) for the year ended February 2, 2020? $110,225 $15,843 $11,242 $11,121 2. What amount of sales revenue (in millions) was earned for the year ended February 2, 2020? $110,225 $15,843 $11,242 $11,121 3. What was the cost (in millions) of the company's inventory on February 2, 2020 ? $2,133$14,531$13,925$7,787 4. How much cash (in millions) does The Home Depot have on February 2, 2020? $2,1331,7783,595$236 A PPENDIX A Excerpts from the Fiscal 2019 10-X Annual Report of The Horne Depot, Inc: A7 THE HOME DEPOT, INC. Consolidated Balance Sheets in millions, except per share data ASSETS Current assets: Cash and cash equivalents Receivables, net Merchandise inventories Other current assets Total current assets Net property and equipment Operating lease right-of-use assets Goodwill Other assets Total assets LIABIITTIES AND STOCKHOLDERS' EQUTTY Current liabilities: Short-term debt Accounts payable Accrued salaries and related expenses Sales taxes payable Deferred revenue Income taxes payable Current installments of long-term debs Current operating lease liabilities Other acerued expenses Total current liabilities Long-term debt, excluding current installments Long-term operating lease liabilities. Deferred income taxes Other long-term liabilities Total liabilities Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,786 shares at February 2, 2020 and 1,782 shares at February 3,2019; outstanding: 1,077 shares at February 2,2020 and 1,105 shares at February 3, 2019 Paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost, 709 shares at February 2,2020 and 677 shares at February 3, 2019 Total stockholders' (deficit) equity Total liabilities and stockholders' equity February 2, 2020 "Fiscal 2019" S 2,133 2,106 14,531 1,04019,81022,770 5,595 2,254 807$51,236 5 9747,787 1,494 605 2,116 55 1,839 828 18,3752,677 5,066 706 54,3521,535 S 1,339 7,755 1,506 656 1,782 11 1,056 $44,003 "Fiscal 2018 " S 1,778 1,936 13,925 18,529890 2,252847544,003 16,7162.611 491 45.8811.867 89 11,001 51,729 (739) (3,116)(65,196)51,236 89 10,578 46,423 (772) 544,003(1,878)(58,196) Answer the following questions by referring to the financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2019 for The Home Depot runs from February 4, 2019, to February 2,2020 . As with many retail companies, The Home Depot labels the period "Fiscal 2019 " even though it ends in the 2020 calendar year. The label "Fiscal 2019" is appropriate because Fiscal 2019 includes 11 months from the 2019 calendar year. The Home Depot explains its choice of fiscal period in Note 1 to its financial statements.) Required: 1. What amount of net income was reported (in millions) for the year ended February 2, 2020? $110,225 $15,843 $11,242 $11,121 2. What amount of sales revenue (in millions) was earned for the year ended February 2, 2020? $110,225 $15,843 $11,242 $11,121 3. What was the cost (in millions) of the company's inventory on February 2, 2020 ? $2,133$14,531$13,925$7,787 4. How much cash (in millions) does The Home Depot have on February 2, 2020? $2,1331,7783,595$236 A PPENDIX A Excerpts from the Fiscal 2019 10-X Annual Report of The Horne Depot, Inc: A7 THE HOME DEPOT, INC. Consolidated Balance Sheets in millions, except per share data ASSETS Current assets: Cash and cash equivalents Receivables, net Merchandise inventories Other current assets Total current assets Net property and equipment Operating lease right-of-use assets Goodwill Other assets Total assets LIABIITTIES AND STOCKHOLDERS' EQUTTY Current liabilities: Short-term debt Accounts payable Accrued salaries and related expenses Sales taxes payable Deferred revenue Income taxes payable Current installments of long-term debs Current operating lease liabilities Other acerued expenses Total current liabilities Long-term debt, excluding current installments Long-term operating lease liabilities. Deferred income taxes Other long-term liabilities Total liabilities Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,786 shares at February 2, 2020 and 1,782 shares at February 3,2019; outstanding: 1,077 shares at February 2,2020 and 1,105 shares at February 3, 2019 Paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost, 709 shares at February 2,2020 and 677 shares at February 3, 2019 Total stockholders' (deficit) equity Total liabilities and stockholders' equity February 2, 2020 "Fiscal 2019" S 2,133 2,106 14,531 1,04019,81022,770 5,595 2,254 807$51,236 5 9747,787 1,494 605 2,116 55 1,839 828 18,3752,677 5,066 706 54,3521,535 S 1,339 7,755 1,506 656 1,782 11 1,056 $44,003 "Fiscal 2018 " S 1,778 1,936 13,925 18,529890 2,252847544,003 16,7162.611 491 45.8811.867 89 11,001 51,729 (739) (3,116)(65,196)51,236 89 10,578 46,423 (772) 544,003(1,878)(58,196)