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 transcribedimage 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 $511 Short-term investments 218 Merchandise inventory-net 12,561 Other current assets 938 Total current assets 14,228 Property, less accumulated depreciation 18,432 Long-term investments 256 Deferred income taxes-net 294 Goodwill 303 Other assets 995 Total assets $34,508 827 Current liabilities Short-term borrowings $722 Current maturities of long-term debt 1,110 Accounts payable 8,279 Accrued compensation and employee benefits 662 Deferred revenue 1,299 Other current liabilities 2,425 Total current liabilities 14,497 Long-term debt, excluding current maturities 14,391 Deferred revenue-extended protection plans Other liabilities 1,149 Total liabilities 30,864 Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value 401 Capital in excess of par value Retained earnings 3,452 Accumulated other comprehensive loss (209) Total shareholders' equity 3,644 Total liabilities and shareholders' equity $34,508 Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that long-term investments are nonoperating

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities

Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen

20th Edition

9780357109144

Students also viewed these Accounting questions