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Refer to the summarized financial statements of The Home Depot in Appendix. A. (Note: The Home Depot, Inc., fiscal year 2018, ends on February 3, 2019.) 1. Does the company report an Allowance for Doubtful Accounts in its financial statements? Yes No 2. Compute the company's recelvables turnover ratio and days to collect for the year ended February 3, 2019. (Use 365 days in a year. Consider receivable turnover ratio rounded to 1 decimal place. Round your answers to 1 decimal place.) TIIE. IIOME DEPOT, INC. Consolidated Balance Sheets in millions, except fer shanc dafa February 3, January 28, 20192018 Asuets Curtent assets: Cach and cach cuaivalents Receivables, net Merchandive inventories Othet curreat assets Total current assets Net property and equipment Gootweil Oriet assets To4al atuets 1iakilties and Syeckboldere" Equity Current kabilites: Shonterm debt Accosnits proakst Accrued walaries and related expenses Seles taue poratie Befined tovenot Income tauss perahle Income taxes payable Current instalments of longterm debt Other accrued expenses Total current liabilities Lonsterm debt, excluding current instaiments Deferred income taxes Other longterm liabilities Total liabilities Common stock, par value 50.05; authorized: 10,000 shares; issued: 1,782 at February 3, 2019 and 1,780 shares at January 28, 2018; II 54 outstanding: 1,105 shares at February 3,2019 and 1,158 shares at January 28, 2018 Paidin capital Retained carnings Accumulated other comprehensive loss (772) (566) Treasury stock, at cost, 677 shares at February 3,2019 and 622 shares at January 28, 2018 Total stockholders' (deficit) equity Total liabilities and stockholders' equity 54,00344,529 See accomparging notes to cansolidated financial statements. THE HOME DEPOT, INC. Consolidated Statements of Earnings in millions, except per share data Fiseal 2018 Fiscal 2017 Fiseal 2016 Net sales Cost of sales Gross profit 37,160 19.513 17,864 Selling. Eeneral and administrative Depreciation and mortization Impairment loss Total operating expenses Operating income 15,530 Interest and other (income) expense: Interest and investment income (93) (74) Interest expense Other Interest and other, net Farningra before provision for income taves Provision for income taxes Net earninget Basic weighted werare common shares Bavic earnings per share Basic earnings per share Diluted weighted average common shares Diluted carnings per share 1,143 1.184 Fiscal 2018 inchedes 53 wecks. Fiscal 2017 and fiscal 2016 include 52 uceks. Sec accompanying notes to consolidated financial statements. TIIE, HOME, DEMOT, INC. Consolidated Statements of Comprehensive Income in milliens Fiscal 2018 Fiscal 2017 Fiteal 2016 Net earnings (267) 3] (3) Cash flow bedges, net of tax 53 (1) Other Total other comprehensive (oss) income (206) Comprehensive income 510.915 (9) THE HOME DEPOT, INC. Conselidated Statemests of Steckbolder't Equity in millions Fiscal 2018 Fiseal 2017 Fheal 2016 Conmon Stock: THE HOME DEPOT, INC. Foreign currency translation adjustments (267) 311 Cash flow hedges, net of tax 53 (1) Othet Balance at end of year (777) (9) Theasury Stock: Balance at beginning of year (48.196) (40.194) (867) Repurchases of common stock Balance at end of year (10,000) Total stockholder' (deficit) equity S (1,878) (58,196) (48.196) (40,194) Fiveal 2018 includes 53 weeks. Fiscal 2017 and fiscal 2016 include 52 weeks. Sec acrompansing notes to consolidated financlal statements THE HOE DEPOT, INC. Consolidated Statements of Cash Flons in millions Fical 2018 Fiseal 2017 Fiscal 2016 Cach Flens from Opcrating Activities: Net carnines 5 11.121 58.630 \& 7,957 Reconcitiatios of act earnings to net cash provided by operating activities Depreciution and amottization Stocklous compenution expense. Impoirment low Changet in rectivables, nel 33 139 (158) Changes in receivables, net 33139 (138) Changes in merchandise imventories. (1,244) (84) (769) Changes in other current assets (257) (10) Changes in accounts payable and accrucd expenses Changes in deferred revenue 743 Changes in income taxes payable (42) Changes in deferred income taxes 80 (48) Other operating activities: Net cash provided by operating activities 13,038 (2,442) (1,897) (21) (374) Payments for businesses acquired, net Proceeds from sales of property and equipment Other inverting activities 14 (4) Net cash used in investing activitict (2,416) (2,228) (1,583) Cavh Flows from Financing Activities: (Repayments of) proceeds from shorterm debt, net Proceeds from longserm debt, net of divcounts Repayments of loneterm debt (1,209)(9,963)236(4,704)($43)(8,000)255(4,212)(3,045)218(3,404) Proceeds from sales of property and equipment 33 47 38 Other investing activities 14 (4) Net cash used in investing activitics (2,416) (2,228) (1,583) Cash Flons from Financing Activities: (Repayments of) proceeds from shortterm debt, net (220) Proceeds from longierm debt, tet of discounts 3,466 (1,209) (543) (9,963) Repurchaves of commen stock Proceeds from sales of common stock Cash dividends (4,704) (4.212) (26) (2II) (78) Net cash used in financing activitics Change in caih and cach equivalents Effect of exchange rate changes on cash and cash cquivalents \begin{tabular}{rrr} (12,420) & (8,870) & (7,870) \\ \hline(1,798) & 933 & 130 \\ (19) & 124 & (8) \\ 3,595 & 2,538 & 2.216 \\ \hline 1,778 & $3.595 & $2.518 \\ \hline \end{tabular} Cach and cash equivalents at beginning of year Cach and cach cquivalents at end of year Supplemental Disclosures: Cach paid for income taves Cash paid for interest, net of interest capitalized Noncash capital expenditures Firal 2018 includer 53 weds. Fical 2017 and fiscal 2016 inchude 52 weeks See accompanying noter to consolidated finandal statements
