Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Refer to the financial statements of The Home Depot in Ancendix A. at the end of this book. (Note: Fiscal 2016 for The Home Depot
Refer to the financial statements of The Home Depot in Ancendix A. at the end of this book. (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. Calculate and express as a percentage the company's debt-to-assets ratio using amounts reported in its financial statements for the years ended January 29, 2017, and January 31, 2016, respectively. 0.591 89.9 and 85.0 percent 797 and 76.0 percent 36.6 and 35.1 percent 41.3 and 39.3 percent 2. Using the company's interest expense, calculate the times interest eamed ratio to two decimal places for the year ended January 29, 2017 169 175 8.19 1385 Refer to the financial statements of The Home Depot in Ancendix A. at the end of this book. (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. Calculate and express as a percentage the company's debt-to-assets ratio using amounts reported in its financial statements for the years ended January 29, 2017, and January 31, 2016, respectively. 0.591 89.9 and 85.0 percent 797 and 76.0 percent 36.6 and 35.1 percent 41.3 and 39.3 percent 2. Using the company's interest expense, calculate the times interest eamed ratio to two decimal places for the year ended January 29, 2017 169 175 8.19 1385
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6692458d4daed_0926692458ce165a.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started