Question: Refer to the financial statements of The Home Depot in Appendix A. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. As with many retail companies, The Home Depot labels the period "Fiscal 2016" even though it ends in the 2017 calendar year. The label "Fiscal 2016" is appropriate because Fiscal 2016 includes 11 months from the 2016 calendar year. The Home Depot explains its choice of fiscal period in Note 1 to its financial statements.)

Required:

1. Which of the two basic reporting approaches for the cash flows from operating activities did The Home Depot use?

• Indirect
• Direct

2. What amount of income tax payments did The Home Depot make during the year ended January 29, 2017?

• $639 million
• $12 million
• $3,082 million
• $4,623 million

3. In the fiscal year ended January 29, 2017, The Home Depot generated $9,783 million from operating activities. Indicate where this cash was spent by listing the two largest cash outflows.

• Share Repurchase ($6,880 million) and Capital Expenditures ($1,621 million)
• Cash Dividends ($3,404 million) and Share Repurchase ($6,880 million)
• Long-Term Debt Repayments ($3,045 million) and Share Repurchase ($6,880 million)
• Share Repurchase ($7,000 million) and Cash Dividends ($3,404 million)