Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I just need help with the ones marked wrong in red. Thank you. The following information relates to Home Depot, Inc., and Lowe's Companies, Inc.

I just need help with the ones marked wrong in red. Thank you.

image text in transcribedimage text in transcribedimage text in transcribed

The following information relates to Home Depot, Inc., and Lowe's Companies, Inc. for their 2018 and 2017 fiscal years. HOME DEPOT, INC. Selected Financial Information ( amounts in millions, except per share amounts) January 28, 2018 Total current assets $ 18,933 Merchandise inventory 12,748 Property and equipment, net of depreciation 22,075 Total assets 44,529 Total current liabilities 16,194 Total long-term liabilities 26,881 Total liabilities 43,075 Total shareholders' equity 1,454 Revenue 100,904 Cost of goods sold 66,548 Gross profit 34,356 Operating income 14,681 Earnings from continuing operations before income tax expense 13,698 Income tax expense 5,068 Net earnings 8,630 Basic earnings per share $ 7.33 January 29, 2017 $ 17,724 12,549 21,914 42,966 14,133 24,500 38,633 4,333 94,595 62,282 32,313 13,427 12,491 4,534 7,957 $ 6.47 LOWE'S COMPANIES, INC. Selected Financial Information ( amounts in millions except per share data) January 24, 2018 Total current assets $ 12,000 Merchandise inventory 10,458 Property and equipment, net of depreciation 19,949 Total assets 34,408 Total current liabilities 11,974 Total long-term liabilities 16,000 Total liabilities 27,974 Total stockholders' equity 6,434 Revenues 65,017 Cost of goods sold 42,553 Gross profit 22,464 Operating income 5,846 Earnings from continuing operations before income taxes 5, 201 Income tax expense 2,108 Net earnings 3,093 Basic earnings per share $ 3.48 January 25, 2017 $ 10,561 9,458 19,577 31, 266 10,492 13,120 23,612 7,654 59,074 38,504 20,570 4,971 4,419 1,873 2,546 $ 2.73 Required Compute the following ratios for the companies' 2018 fiscal years (years ending in January 2018): (Use 365 days in a year. Do not round intermediate calculations. Round "Current ratio" to 2 decimal places and "Average days" to nearest whole number. Round all other answers to 1 decimal place.) & Answer is complete but not entirely correct. LOWE'S E (1) HOME DEPOT 1.17 69 days 96.7 % 31.3 % 1.00 85 81.3 15.8 days % % Current ratio Average days to sell inventory (Use average inventory.) Debt-to-assets ratio Return on investment (Use average assets and use "earnings from continuing operations" rather than "net earnings.") Gross margin percentage Asset turnover (Use average assets.) Return on sales (Use "earnings from continuing operations rather than "net earnings.") Plant assets to long-term debt ratio % % times % 34.6 1.9 X 34.0 2.3 13.6 1.2% times 7.9 X % 0.8

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Health And Safety Audits A Compendium Of Thoughts And Trends

Authors: Lawrence B. Cahill

2nd Edition

1598889737, 978-1598889734

More Books

Students also viewed these Accounting questions

Question

What problem(s) does this public have related to this issue?

Answered: 1 week ago

Question

Who is your key public?

Answered: 1 week ago