S2-1 Finding and Analyzing Financial Information (L01, LO4, LOS) Refer to the summarized financial statements of The Home Depot in Appendix A. Required: 1. What is the company's most recent fiscal year-end? The company's fiscal year end for the most recent year is 2. Use the company's balance sheet to determine the amounts in the accounting equation (A-L+SE). (Enter your answers in whole dollars, not in million.) Assets Liabilities Shareholders' Equity 3-a. What is the amount of the company's current liabilities on January 29, 2017? (Enter your answers in whole dollars, not in million.) Current liabilities 3-b. Are current assets sufficient to cover current liabilities? Yes No 4. Has financing for the company's investment in assets primarily come from liabilities or from shareholders' equity? Liabilities Shareholders' equity EXHIBIT AL The Home Depot's Summarized Balance Sheets THE HOME DEPOT Balance Sheets (in millions) January 29, 2017 January 31, 2016 February 1, 2015 February 2, 2014 February 3, 2013 Year Ended: (Fiscal 2016) (Fiscal 2015) (Fiscal 2014) (Fiscal 2013) (Fiscal 2012) Assets Current Assets Cash and Cash Equivalents $ 2,538 $ 2.216 $ 1.723 $ 1.929 $ 2,491 Accounts Receivable, Net 2,029 1.800 1.484 1.398 1,395 Inventories 12.549 11.809 11,079 11,057 10.710 Other Current Assets GOS 1.078 1,016 895 773 Total Current Assets 17.724 16,993 15,302 15,279 15,372 Property and Equipment, Net 21.914 22.191 22.720 23,318 24,009 Notes Receivable 140 Goodwill 2,093 2.102 1.353 1.289 1.170 Other Assets 1.235 1.263 571 602 Total Assets $42.966 $ 42,519 $ 39,946 40,518 $ 41,081 Liabilities and Shareholders' Equity Current Liabilities $ 14,133 Long-Term Liabilities 24.500 Total Liabilities 38.633 Shareholders' Equity 4.333 Total Liabilities and 8 42.966 Shareholders' Equity $ 12.626 23.707 36.233 6.316 $ 42.519 $ 11.269 19.355 30,624 9.322 $ 39,946 $ 10,749 17.247 27.996 12.522 $ 40,518 $ 11.462 11.845 23.307 17.777 $ 41,081 EXHIBIT A.2 The Home Depot's Summarized Statements of Earnings THE HOME DEPOT Statements of Earnings (in millions) January 29, 2017 January 31, 2016 February 1, 2015 February 2, 2014 February 3, 2013 Year Ended: (Fiscal 2016) (Fiscal 2015) (Fiscal 2014) (Fiscal 2013) (Fiscal 2012) Net Sales Revente $91,595 8 88,519 $83,176 S 78.812 $ 74.751 Cont of Sales 62.282 58,254 54.787 51.897 48,012 Grow Profit 32.313 30.265 28,389 26.015 25,812 Operating and Other Experts 18.886 18.491 17.020 17,740 18,076 Interest and Other Expe 9:36 753 193 515 Income Tax Expense 4,534 14.012 3,631 3,082 2.66 Net Income $ 7,057 7.00 $ 6,315
