Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lowe's is a leading retailer in the home improvement field. Complete the component percentage analysis on the company's income statement that follows. (Enter your

image text in transcribed

Lowe's is a leading retailer in the home improvement field. Complete the component percentage analysis on the company's income statement that follows. (Enter your answer as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34).) LOWE'S COMPANIES, INC. Consolidated Statements of Earnings (in millions, except per share and percentage data) Net sales Cost of sales Gross margin Fiscal Years Ended on February 3, 2012 January 28, January 29, % Sales % Sales % Sales 2011 2010 $ 48,237 100.00% $ 48,300 100.00% $ 46,939 100.00 % 31,746 31,564 30,746 16,491 100.00 16,736 100.00 16,193 100.00 Expenses: Selling, general, and administrative 11,082 10,526 9,744 Depreciation 1,557 1,379 1,181 Interest-net 287 199 158 Total expenses 12,926 0.00 12,104 0.00 11,083 0.00 Pre-tax earnings 3,565 100.00 4,632 100.00 5,110 100.00 Income tax provision 1,318 1,712 1,908 Net earnings $ 2,247 100.00 % $ 2,920 100.00 % $ 3,202 100.00%

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

Core concepts of accounting information systems

Authors: Jacob M. Rose, Mark G. Simkin, Carolyn Strand Norman

13th edition

978-1-119-0332, 1118742931, 978-1118742938

More Books

Students also viewed these Accounting questions

Question

How can NAFTA be beneficial to suppliers of Walmart?

Answered: 1 week ago