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The Income Statement and Balance Sheet for The Home Depot, Inc. can be found as separate worksheets on tabs (a) and (b), respectively. On worksheet , prepare a ratio analysis for 2017 and 2016 that includes the following ratios: Current ratio Net income to average common stockholder's equity Inventory turnover Number of days' sales in accounts receivable (assume 365 days in a year) Equity ratio Profit Margin Total Assets turnover Acid-test (quick ratio) For three ratios (current ratio, inventory turnover, and profit margin) include your interpretation of the results of your analysis. Your interpretation should include what the ratio measures, whether it is increasing or decreasing, and whether the company should be concerned about the change in the ratio.

The Home Depot, Inc. Income Statement For the years ended (all numbers in millions) January 29, 2017 January 31, 2016 February 1, 2015 Revenue: Total Revenue 94,595 88,519 83,176 Cost of Revenue (COGS) 62,282 58,254 54,787 Gross profit 32,313 30,265 28,389 Operating Expenses: Selling, General & Administrative 17,132 16,801 16,280 Other Expense 1,754 1,690 1,640 Total Operating Expense 18,886 18,491 17,920 Operating Income 13,427 11,774 10,469 Other Income 36 166 337 Earnings before Income and Taxes 13,463 11,940 10,806 Interest Expense 972 919 830 Income before Tax 12,491 11,021 9,976 Income Tax Expense 4,534 4,012 3,631 Net Income 7,957 7,009 6,345

The Home Depot, Inc. Balance Sheet (all numbers in millions) January 29, 2017 January 31, 2016 February 1, 2015 Current Assets: Cash and Cash Equivalents 2,538 2,216 1,723 Net Receivables 2,029 1,890 1,484 Inventory 12,549 11,809 11,079 Other Current Assets 608 569 1,016 Total Current Assets 17,724 16,484 15,302 Long-term Assets: Property, Plant & Equipment 21,914 22,191 22,720 Goodwill 2,093 2,102 1,353 Other 1,235 1,196 571 Total Long-term Assets 25,242 25,489 24,644 Total Assets 42,966 41,973 39,946 Current Liabilities: Accounts Payable 11,212 10,531 9,473 Short-term debt 1,252 427 328 Other current liabilities 1,669 1,566 1,468 Total Current Liabilities: 14,133 12,524 11,269 Long-term Liabilities: Long-term Debt 22,349 20,789 16,869 Other 1,855 1,965 1,844 Deferred Liabilities 296 379 642 Total Long-term Liabilities 24,500 23,133 19,355 Total Liabilities 38,633 35,657 30,624 Stockholders Equity: Common Stock 88 88 88 Retained Earnings 35,519 30,973 26,995 Treasury Stock (40,194) (33,194) (26,194) Capital Surplus 9,787 9,347 8,885 Other Stockholder Equity (867) (898) (452) Total Stockholder's Equity 4,333 6,316 9,322 Total Liabilities and Stockholder's Equity 42,966 41,973 39,946