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Refer to the financial statements of Lowe's Companies, Incorporated in Appendix B (Note: Fiscal 2019 for Lowe's runs from February 2.2019. to January 31, 2020.

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Refer to the financial statements of Lowe's Companies, Incorporated in Appendix B (Note: Fiscal 2019 for Lowe's runs from February 2.2019. to January 31, 2020. As with many retail companies, The Home Depot labels the period "Fiscal 2019" even though it ends in the 2020 calendar year. The label "Fiscal 2019" is appropriate because Fiscal 2019 includes 11 months from the 2019 calendar year, The Home Depot explains its choice of fiscal period in Note 1 to its financial statements.) 1. As of January 31, 2020, how many shares of common stock were issued? How many shares were outstanding? How many were shares were held in treasury? 801 million; 801 million: 381 million 381 million; 1,727 million; 136 million 0 763 million 801 million; 381 million 763 million: 763 million: 0 2. According to the Retained Earnings column in the Statement of Stockholders' Equity, what was the total dollar amount of cash dividends declared during the year ended January 31, 2020? o $1,653 million $4,090 million Prev 1 of 5 !!! Next > 2. According to the Retained Earnings column in the Statement of Stockholders' Equity, what was the total dollar amount of cash dividends declared during the year ended January 31, 2020? o $1,653 million $4,090 million $1,500 million $1,324 million 3. According to the income statement, how hos Lowe's net earnings and basic earnings per share changed over the past two years? Net cornings increased and EPS decreased Net earnings decreased and EPS increased Both net earnings and EPS increased Both net earnings and EPS decreased LOWE'S COMPANIES, INC. CONSOLIDATED STATEMENTS OF EARNINGS February 1, 2019 "Fiscal 2018" 5 Sales $71,309 100.00% 48,401 67.88 22,908 32.12 February 2, 2018 "Fiscal 2017" % Sales $68,619 100.00% 46,185 6731 22.434 32.69 (In millions, except per share and percentage data) Fiscal Years Ended January 31, 2020 "Fiscal 2019" % Sales Net sales $72,148 100.00% Cost of sales 49,205 68.20 Gross margin 22,943 31.80 Expenses Selling, general and administrative 15.367 21.30 Depreciation and amortization 1.262 1.75 Operating income 6,314 8.75 Interest-net 691 0.96 Loss on extinguishment of debt Pre-tax earnings 5.623 7.79 Income tax provision 1,342 Net earnings $ 4.281 5,93% Basic earnings per common share $5.49 Diluted earnings per common share $5.49 Cash dividends per share $ 2.13 17,413 1.477 4,018 624 24.41 2.07 5.64 0.88 14.444 1.404 6,586 633 464 5,489 2,042 $ 3,447 21.04 2.05 9.60 0.92 0.68 8.00 2.98 5.02% 1.86 3,394 1,080 $ 2,314 4.76 1.52 3.24% $ 2.84 $ 2.84 $ 1.85 $4.09 S 4.09 S 1.58 February 1, 2019 "Fiscal 2018" % Sales $2,314 3.24% (221) (0.30) February 2, 2018 "Fiscal 2017" % Sales $3,447 5,02% 251 0.37 (In millions, except percentage data) Fiscal Years Ended January 31, 2020 "Fiscal 2019 % Sales Net earnings $4.281 5.93% Foreign currency translation adjustments - 94 0.13 net of tax Other (21) (0.03) Other comprehensive income/(loss) 73 0.10 Comprehensive income $4,354 6.03% See accompanying notes to consolidated financial statements. (0.30) (220 $2,094 251 $3,698 0.37 5.39% 2.94% (in millions, except par value) January 31, 2020 February 1, 2019 Assets Current assets: Cash and cash equivalents Short-term investments Merchandise inventory.net Other current assets Total current assets Property, less accumulated depreciation Operating lease right-of-use assets Long term investments Deferred income taxe.net Goodwill Other assets Total assets $ 511 218 12.561 938 14,228 18,432 S 716 160 13,179 1,263 15,318 18.669 3,891 372 216 303 702 $.39,471 1 256 294 303 995 $34,508 5 722 1.110 Liabilities and shareholders' equity Current liabilities: Short-term borrowings Current maturities of long-term debt Current operating lease liabilities Accounts payable Accrued compensation and employee benefits Deferred revenue Other rentabilities $ 1.941 597 S01 7,659 684 1.219 2.581 8.279 662 1.299 2425 Current operating lease liabilities Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Noncurrent operating Tease liabilities Deferred revenue-extended protection plans Other liabilities Total liabilities 501 7,659 684 1.219 2.581 15,182 16,768 3,943 894 712 37,499 8,279 662 1.299 2.425 14,497 14,391 827 1.149 30.864 - Commitments and contingencies Shareholders' equity: Preferred stock -55 par value, none issued Common stock -S0S0 par value; Shares issued and outstanding January 31, 2020 February 1, 2019 Capital in excess of par value Retained carnings Accumulated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' equity 763 801 381 401 1.727 (136) 1.972 $39,471 3.452 (209) 3,644 $34,508 LOWE'S COMPANIES, INC. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except per share data) Common Stock Shares Amount 866 $433 Capital in Excess of Par Value Retained Earnings $6,241 Accumulated Other Comprehensive Income/(Loss) S(240) Total Shareholders Equity $ 6,434 3,447 251 3,447 251 (1.324) 99 (215) (1.324) 99 (3,174) (40) (2.939) Balance February 3, 2017 Net earnings Other comprehensive income Cash dividends declared $1.58 per share Share-based payment expense Repurchase of common stock Issuance of common stock under share-based payment plans Balance February 2, 2018 Cumulative effect of accounting change Net earnings Other comprehensive loss Cash dividends declared, S1.85 per share Share-based payment expense Repurchase of common stock Issuance of common stock under share-based payment plans Balance February 1, 2019 (20) 12 $415 4 8.30 138 $ 22 $ 11 $5,425 33 2.314 140 $5,873 33 2,314 (220) (1.500) 74 (3,045) (220) (1.500) 74 (209) (32) (16) (2.820) 113 115 $ 3,644 801 $401 $3,452 $(209) (220) (1.500) (220) 1.500) 74 (3,045) 74 (209) (32) (16) (2.820) 113 3 801 $401 $3,452 S(209) (263) Other comprehensive loss Cash dividends declared, S1.85 per share Share-based payment expense Repurchase of common stock Issuance of common stock under share based payment plans Balance February 1, 2019 Cumulative effect of accounting change Net earnings Other comprehensive income Cash dividends declared, $2.13 per share Share-based payment expense Repurchase of common stock Issuance of common stock under share-based payment plans Balance January 31, 2020 4,281 115 $ 3,644 (263) 4,281 73 (1,653) 98 (4.325) 73 (1,653) 98 (214) (41) (21) (4,090) 116 117 763 $ 1,972 $381 $1,727 $(136) LOWES COMPANIES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions Fiscal Year Ended January 31, 2020 February 1, 2019 February 2, 2018 "Fiscal 2019" "Fiscal 2018" "Fiscal 2017" $4,281 $ 2,314 $ 3,447 1,607 1.540 1,410 468 177 117 (151) 630 952 53 40 Cash flows from operating activities: Net earnings Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization Noncash lease expense Deferred income taxes Loss on property and other assets--net Impairment of goodwill 1 Loss on extinguishment of debt Los/(gain) on cost method and equity method investments Share-based payment expense Changes in operating assets and liabilities: Merchandise inventorynet Other operating assets Accounts payable Other operating liabilities Net cash provided by operating activities Cash flows from investing activities: 12 98 9 74 464 (82) 99 (600) (376) (637) (654) 4,296 (1,289) (110) 1.720 437 6,193 (791) 250 (92) 137 5,065 LE (743) 695 (1,484) 163 (1.373) 1,393 (1.174) 76 (981) 1.114 (1.123) 45 (509) 13 (1,441) (1,369) (1.080) (415) 220 3,972 (1.113) 625 2.968 (2,849) (326) Cash Nows from investing activities: Purchases of investments Proceeds from sale/maturity of investments Capital expenditures Proceeds from sale of property and other long-term assets Acquisition of business-net Othernet Net cash used in investing activities Cash flows from financing activities: Net change in commercial paper Net proceeds from issuance of debt Repayment of long-term debt Proceeds from issuance of common stock under share-based payment plans Cash dividend payments 1 Repurchase of common Mock Othernet Net cash used in financing activities Effect of exchange rate changes on cash Net increase/(decrease) in cash and cash equivalents, including cash classified within current assets held for sale Less: Net increase/ decrease in cash classified within current assets held for sale Net Increase/(decrease in cash and cash equivalents Cash and cash equivalents, boginning of year Cash and cash equivalents, end of year 118 (1.618) (4,313) 114 (1.455) (3,037) (5) (5,124) (12) 139 (1.288) (3,192) (10) (3,607) 13 (2,735) 1 30 193 12 205 SI! 716 (23) (54) (77) 588 SII 90 558 588 (415) 220 3.972 (1.113) 625 2,968 (2.849) (326) Cash flows from financing activities: Net change in commercial paper Net proceeds from issuance of debt Repayment of long-term debt Proceeds from issuance of common stock under share based payment plans Cash dividend payments Repurchase of common stock Othernet Net cash used in financing activities Effect of exchange rate changes on cash Net increase/decrease in cash and cash equivalents, including cash classified within current assets held for sale Less: Not increuse/ decrease) in cash classified within current assets held for sale Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year 118 (1.618) (4,313) (1) (2,735) 1 114 (1.455) (3,037) (5) (5,124) (12) 139 (1.288) (3.192) (10) (3,607) 13 30 193 12 205 511 $ 716 (23) (54) (77) 588 511 30 558 $ 588

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