Compute the following three ratios for The Home Depot's year ended January 29, 2017: (i) fixed asset turnover, (ii) days to sell, and (iii) debt-to-assets. To calculate the ratios, use the Fiscal 2016 financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. As with many retail companies, The Home Depot labels the period "Fiscal 2016" even though it ends in the 2017 calendar year. The label "Fiscal 2016" is appropriate because Fiscal 2016 includes 11 months from the 2016 calendar year. The Home Depot explains its choice of fiscal period in Note 1 to its financial statements.) (Use 365 days in a year. Round intermediate calculations to 2 decimal places. Round fixed asset turnover and debt-to-assets final ratios to 2 decimal places. Round days to sell ratio to 1 decimal place.) 2.37; 71.4; 0.90 2.37; 47.0; 0.52 4.29; 47.0; 0.90 4.29; 71.4; 0.90 THE HOME DEPOT, INC. AND SUBSIDIARIES Consolidated Balance Sheets January 29, 2017 Fiscal 2016 January 31, 2016 Fiscal 2015 S 2,216 $ 2,538 2,029 12,549 1.890 11,809 17,724 16,484 40,426 18.512 21.914 2.102 2,093 1.235 1.196 $42.966 $41,973 S $ 710 7,000 1.484 508 1,669 350 6,565 1.515 476 1,566 amounts in millions, except share and per share data ASSETS Current Assets: Cash and Cash Equivalents Receivables, nel Merchandise Inventories Other Current Assets Total Current Assets Property and Equipment, al cost Less Accumulated Depreciation and Amortization Net Property and Equipment Goodwill Other Assets Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY 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 Delt Other Accrued Expenses Total Current Liabilities Long-Term Debt, excluding current installments Other Long Term Liabilities Deferred Income Taxes Total Liabilities STOCKHOLDERS' EQUITY Common Stock, per value SOLOS; authorized: 10 billion shares: issued: 1.776 billion shares at January 29, 2017 and 1.772 billion shares al January 31, 2016. outstanding: 1.203 billion shares al January 29, 2017 and 1.252 billion shares at January 31, 2016 Paid-in Capital Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock, al cost, 573 million shares al January 29, 2017 and 520 million shares at January 31, 2016 Total Stockholders' Equity Total Liabilities and Stockholders' Equity See accompanying Notes to Consolidated Financial Statements 1.941 12.524 20,789 2,195 14,133 22.3.49 1,855 296 38,633 1.965 379 35,657 88 9,787 35,519 9,347 30,973 (898) (33.194) 1867) (40.194) 6,316 $41,973 $42,966 APPENDIX A c es from the 2016 Report of The Home Depot.se THE HOME DEPOT, INC. AND SUBSIDIARIES Consolidated Sta t es of Earnings Feb 1, 2015 "Fiscal 2014 Fiscal Year Ended Jan. 31, 2016 Fiscal 2015 588519 58,254 30,265 5x1176 21 16.801 1.670 18,491 16.240 1.640 17.920 10469 (166) (327) Jan. 29, 2017 , pr share oats Fiscal 2016 NET SALES $94.595 Cost of Sales GROSS PROFIT 32,313 Operating Expenses Selling. General and Administrative 17,132 Depreciation and Amortization 1.754 Total Operating Expenses IR RSS OPERATING INCOME 13.427 Interest and Other (Income) Expense Interest and Investment Income Interest Expertise Interest and Other, net EARNINGS BEFORE PROVISION FOR INCOME TAXES Provision for Income Taxes 4.534 NET EARNINGS $ 7957 Weighted Average Common Shares BASIC EARNINGS PER SHARE $ 6.47 Diluted Weighted Average Common Shares DILUTED EARNINGS PER SHARE $ 6.45 th scal years ended wary 29, 2017 January 31, 2016 and February 1, 2015 include 52 weeks Som C a l Statements 9.976 4,012 57009 564 55.49 5474 123 1.346 55.46 THE HOME DEPOT, INC. AND SUBSIDIARIES Consolidated Statements of Comgresive come amount in millions Jan. 29, 2017 "Fiscal 2016" Fiscal Year Ended Jan. 31, 2016 Fiscal 2015 Feb 1, 2015 "Fiscal 2016 $5.35 (510) Net amnings $7.957 Other Comprehensive Income (Loss) Foreign Currency Translation Adjustments Cash Flow Hedges, et of tax Other Total Other Comprehensive Income (Less) COMPREHENSIVE INCOME $7.985 (1) F landed dowry 28, 2017Jouary 31, 2016 and February 1, 2015 include 52 weeks Consolidated Statements of Stockholders' Equity r Shares (381) Amount 19.194) Stockholders Equity $12.522 6.145 122 (510) IL 225 (7.000) (7.000) (2.530) S 9,322 7.009 145 Accumulated Other C on lock Tudi mland enhve amounts in millions, except per share dare Shares Amount Capital Earnings Income (Loss) Balance, February 2, 2014 1,761 See 8402 19 S 46 Net Earnings 6 345 Shares Issued Under Employee Stock Mans 7 Tax Effect of Stock-Based Compensation Foreign Currency Translation Adjustments Cash Flow Hedges, niet of tax Stock Options Awards and Amortization of Restricted Stock Repurchases of Common Stock Cash Dividends ($1.88 per share) (2.530) Other Balance, February 1, 2015 Net Earnings Shares Issued Under Employee Stock Plans 4 Tax Effect of Stock Based Compensation Foreign Currency Translation Adjustments Cash Flow Hedges, niet of tax Stock Options Awards and Amortization of Restricted Stock Repurchases of Common Stock Cash Dividends (52.36 per share) Balance, January 31, 2016 Net Earnings Shares Issued Under Employee Stock Mans 4 Tax Effect of Stock-Based Compensation Foreign Currency Translation Adjustments Cash Flow Hedges, net of tax Stock Options, Awards and Amortization of Restricted Stock Repurchases of Common Stock Cash Dividends ($2.76 per share) (3,404) Other Halance, January 29, 2017 See accompany to Consolidated Pic tures (412) (34) (7,000) (7.000) (3,031) $6,316 7957 EL TOITTI (7,000) (3,404) 1.76 sati samo 1970 Jan,199 S tabo Jan. 29, 2017 "Fiscal 2016 Fiscal Year Ended Jan. 31. 2016 "Pel 2015 Feb 1, 2015 el 2017 $7.957 $7,009 56.35 1973 1863 244 1.786 (138) (181) (546) (124) (5) (1992 446 99 16 (117) (100) 3,242 9,783 9.373 (1,621) (1,503) CASH FLOWS FROM OPERATING ACTIVITIES: Net farming Reconciliation of Net Earnings to Net Cash Provided by Operating Activities: Depreciation and Amortization Stock Based Compensation Expense Gain Sales of Investments Cupes in Assets and white of the effects of actions Receivable et Merchandise Inventories Other Current Assets Accounts Payable and Accrued Expenses Deferred Revenue Income Taxes Payable Deferred Income Taxes Other Net Cab Provided by Operating Activities CASH FLOWS FROM INVESTING ACTIVITIES: Capital Expenditures, net of $179,5165 and $217 of non-cash capital expenditures in fiscal 2016, 2015 and 2014, respectively Proceeds from Sales of Investments Payments for Businesses Acquired, net Proceeds from Sales of Property and Equipment Net Cash Used in larvesting Activities CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from Short-Term Borrowings, net Proceeds from Lang-Term Borrowings, niet of discounts Repayments of Long Term Debt Repurchases of Common Stock Proceeds from Sales of Common Stock Cash Dividends Paid to Stockholders Other Financing Activities Net Cash Used in Financing Activities Change in Cash and Cash Equivalents Effect of Exchange Rate Changes on Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Year Cash and Cash Equivalents at End of Year SUPPLEMENTAL DISCLOSURE OF CASH PAYMENTS MADE FOR: Interest, net of interest capitalized Income Taxes 144 (1,666) (2001 (1.583) (2.982 (1.221 3.991 4.959 3045) (39) (6,NO (7.000) 1.981 19 (7.000) 252 (22510 0.000 (7,870 (5.787 7071 (100 1.772 2,216 $2.538 $2.216 1929 $1.722 S4 53.853 57 53415