Answered step by step
Verified Expert Solution
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
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 $1,124 Short-term investments 480 Merchandise inventory-net 27,634 Other current assets 2,064 Total current assets 31,302 Property, less accumulated depreciation 40.550 Long-term investments 563 Deferred income taxes-net 647 Goodwill 667 Other assets 2,189 Total assets $75,918 Current liabilities Short-term borrowings $1,588 Current maturities of long-term debt 2,442 Accounts payable 18,214 Accrued compensation and employee benefits 1,456 Deferred revenue 2,858 Other current liabilities 5,335 Total current liabilities 31,893 Long-term debt, excluding current maturities 31,660 Deferred revenue-extended protection plans 1,819 Other liabilities 2,528 Total liabilities 67.900 Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value 884 Capital in excess of par value Retained earnings 7,594 Accumulated other comprehensive loss 460 Total shareholders' equity 8,018 Total liabilities and shareholders' equity $75,918 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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started