Do you see any trends for the individual companies, compare the results for each firm below.

FINANCIAL STATEMENTS Income Statement Revenue (5 million) Cost of Goods Sold Net Receivables Inventories Assets Accounts Payable 2018 71,309 48,401 2017 68,619 45,210 Lowes 2016 2015 65,017 59,074 42,533 38,504 0 10,458 9.458 6.6515 ,633 2014 56,223 36,665 0 8,911 5.124 108,203 71,043 1,936 Home Depot 2017 2016 200,904 94,595 66,548 62,282 1,952 2,029 12,549 7.244 7.000 2015 88.519 58,254 1,890 11,809 6.565 2014 83,176 54,222 1.484 11,079 5,807 12,561 8,2796 11,393 ,590 7.755 One Day's Sales One Day's Cost of Goods Sold 195.37 132.61 188 123.86 178.13 116.53 161.85 205.49 154.04 100.45 296.45 194.64 276,451 182.32 259.161 170.64 242.52 159.6 227.88 148.55 94.72 | 91.98 | 69.92 Days of Inventory Days of Receivables Days of Payables 89.75 0 57.08 89.66 0 53.4 71.54 6.53 39.84 7.06 73.54 7.83 4 1.02 73.99) 7.79 41.131 74.58 6.51 39.09 62.43 53.2 51.01 39.73 Operating Cycle Cash Conversion Cyde 12.29 89.75 32.67 38.78 89.66 36.26 88.71 37.7 78.07 38.23 76.98 37.25 81.09 81.37 40.35 81.78 40.65 Note: The Oin the Net Receivables row for Lowes is not a typo. Lowes sells all of its receivables and thus they transfer all of the credit risk to a bank. The bank FINANCIAL STATEMENTS Income Statement Revenue (5 million) Cost of Goods Sold Net Receivables Inventories Assets Accounts Payable 2018 71,309 48,401 2017 68,619 45,210 Lowes 2016 2015 65,017 59,074 42,533 38,504 0 10,458 9.458 6.6515 ,633 2014 56,223 36,665 0 8,911 5.124 108,203 71,043 1,936 Home Depot 2017 2016 200,904 94,595 66,548 62,282 1,952 2,029 12,549 7.244 7.000 2015 88.519 58,254 1,890 11,809 6.565 2014 83,176 54,222 1.484 11,079 5,807 12,561 8,2796 11,393 ,590 7.755 One Day's Sales One Day's Cost of Goods Sold 195.37 132.61 188 123.86 178.13 116.53 161.85 205.49 154.04 100.45 296.45 194.64 276,451 182.32 259.161 170.64 242.52 159.6 227.88 148.55 94.72 | 91.98 | 69.92 Days of Inventory Days of Receivables Days of Payables 89.75 0 57.08 89.66 0 53.4 71.54 6.53 39.84 7.06 73.54 7.83 4 1.02 73.99) 7.79 41.131 74.58 6.51 39.09 62.43 53.2 51.01 39.73 Operating Cycle Cash Conversion Cyde 12.29 89.75 32.67 38.78 89.66 36.26 88.71 37.7 78.07 38.23 76.98 37.25 81.09 81.37 40.35 81.78 40.65 Note: The Oin the Net Receivables row for Lowes is not a typo. Lowes sells all of its receivables and thus they transfer all of the credit risk to a bank. The bank