Question
Lowe's Companies, Inc. Dollar amounts in Millions Common-Size Balance Sheets Feb. 01, 2019 Feb. 02, 2018 Current assets: Cash and cash equivalents $ 511 $
Lowe's Companies, Inc. | Dollar amounts in Millions | |
Common-Size Balance Sheets | Feb. 01, 2019 | Feb. 02, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 511 | $ 588 |
Short-term investments | 218 | 102 |
Merchandise inventory - net | 12,561 | 11,393 |
Other current assets | 938 | 689 |
Total current assets | 14,228 | 12,772 |
Property, less accumulated depreciation | 18,432 | 19,721 |
Long-term investments | 256 | 408 |
Deferred income taxes - net | 294 | 168 |
Goodwill | 303 | 1,307 |
Other assets | 995 | 915 |
Total assets | 34,508 | 35,291 |
Current liabilities: | ||
Short-term borrowings | 722 | 1,137 |
Current maturities of long-term debt | 1,110 | 294 |
Accounts payable | 8,279 | 6,590 |
Accrued compensation and employee benefits | 662 | 747 |
Deferred revenue | 1,299 | 1,378 |
Other current liabilities | 2,425 | 1,950 |
Total current liabilities | 14,497 | 12,096 |
Long-term debt, excluding current maturities | 14,391 | 15,564 |
Deferred revenue - extended protection plans | 827 | 803 |
Other liabilities | 1,149 | 955 |
Total liabilities | 30,864 | 29,418 |
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| |
Shareholders equity: | ||
Preferred stock - $5 par value, none issued | 0 | 0 |
Common stock - $.50 par value; Shares issued and outstanding 801 at February 1, 2019 and 830 at February 2, 2018, respectively | 401 | 415 |
Capital in excess of par value | 0 | 22 |
Retained earnings | 3,452 | 5,425 |
Accumulated other comprehensive income/(loss) | (209) | 11 |
Total shareholders equity | 3,644 | 5,873 |
Total liabilities and shareholders equity | $ 34,508 | $ 35,291 |
a. What proportion of assets are financed with equity per your common-sized balance sheet of the current year from Part 2 or a deficit? Explain what this percentage means.
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