Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Identify and Compute Net Operating Assets Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par

image text in transcribed

Identify and Compute Net Operating Assets Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents $1,022 Short-term investments 436 Merchandise inventory-net 25,122 Other current assets 1,876 Total current assets 28,456 Property, less accumulated depreciation 36,864 Long-term investments 512 Deferred income taxes-net 588 Goodwill 606 Other assets 1,990 Total assets $69,016 Current liabilities Short-term borrowings $1,444 Current maturities of long-term debt 2,220 Accounts payable 16,558 Accrued compensation and employee benefits 1,324 Deferred revenue 2,598 Other current liabilities 4,850 Total current liabilities 28,994 Long-term debt, excluding current maturities 28,782 Deferred revenue-extended protection plans 1,654 Other liabilities 2,298 Total liabilities 61,728 Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value 802 Capital in excess of par value Retained earnings 6,904 Accumulated other comprehensive loss (418) Total shareholders' equity 7,288 Total liabilities and shareholders' equity $69,016 Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that long-term investments are nonoperating. $ million

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

Step: 3

blur-text-image

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

Accounting for Governmental and Nonprofit Entities

Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus

16th Edition

78110939, 978-0078110931

More Books

Students also viewed these Accounting questions

Question

What do you see as your biggest strength/weakness?

Answered: 1 week ago

Question

7 Explain the equity theory of motivation.

Answered: 1 week ago