Read the financial statements from Kroger. Answer the following question. All questions are only for teaching purposes. Numbers in the balance sheet dated on Jan 28 2012 refers to the balance sheet as of the last day of fiscal year 2011. THE KROGER CO. CONSOLIDATED BALANCE SHEETS January 28, 2012 January 29, 2011 S (In millions, except par values) ASSETS Current assets Cash and temporary cash investments Deposits in-transit Receivables FIFO inventory LIFO reserve Prepaid Expenses Total current assets 188 786 949 6,157 (1,043) 288 7,325 825 666 845 5,793 (827) 319 7,621 Property, plant and equipment, net Goodwill Other assets 14,464 1.138 549 14,147 1,140 597 Total Assets $ 23,476 S 23,505 $ 1.315 s 588 4.227 LIABILITIES Current liabilities Current portion of long-term debt including obligations under capital leases and financing obligations Accounts payable Accrued salaries and wages Deferred income taxes Deferred revenue Total current liabilities 4.329 1,056 190 2.215 9,105 888 220 2,147 8,070 Long-term debt including obligations under capital leases and financing obligations Face-value of long-term debt including obligations under capital leases and financing obligations Adjustment related to fair-value of interest rate hedges Long-term debt including obligations under capital leases and financing obligations 6,826 24 6,850 7,247 57 7,304 Deferred income taxes Pension and postretirement benefit obligations Other long-term liabilities 647 1,393 1,515 750 946 1,137 Total Liabilities 19,510 18,207 SHAREOWNERS' EQUITY Preferred shares, $100 par per share, 5 shares authorized and unissued Common shares, $1 par per share, 1,000 shares authorized; 959 shares issued in 2011 and 2010 Additional paid-in capital Accumulated other comprehensive loss Retained earnings Common stock in treasury, at cost, 398 shares in 2011 and 339 shares in 2010 959 3,427 (844) 8,571 (8,132) 959 3,394 (550) 8,225 (6,732 Total Shareowners' Equity - The Kroger Co. Noncontrolling interests 3,981 (15) 5,296 2 Total Equity 3,966 5,298 Total Liabilities and Equity $ 23,476 23,505 THE KROGER CO. CONSOLIDATED STATEMENTS OF OPERATIONS Years Ended January 28, 2012, January 29, 2011 and January 30, 2010 2011 (52 weeks) 90,374 2010 (52 weeks) 82,049 2009 (52 weeks) 76,609 S $ $ 63,803 13,823 (In millions, except per share amounts) Sales Merchandise costs, including advertising, warehousing, and transportation, excluding items shown separately below Selling, general and administrative Rent Depreciation Goodwill impairment charge | Operating Profit Interest expense 71.494 15,345 619 1,638 623 58,848 13,412 620 1,525 1,113 1,600 18 1.278 2,182 448 1,091 502 435 Earnings before income tax expense Income tax expense 843 247 1,734 601 589 532 Net income including noncontrolling interests Net income (loss) attributable to noncontrolling interests 596 (6) 1,133 17 57 (13) Net income attributable to The Kroger Co. 602 1,116 $ 70 Question 6 (2 points) What's the depreciation expense in 2011? AJ Question 7 (2 points) What's the best estimate of the remaining life of the company's PP&E as of 2011? Please round the number in 2 decimals. Question 8 (1 point) Has Kroger acquired other companies before as of 2011? Please answer the reason in the following short answer. True False Question 9 (1 point) Has Kroger acquired other companies before as of 2011? Why? A/