P2-7B Selected financial data of two competitors, Home Depot and Lowe's, are presented here. (All dollars are in millions.) Suppose the data were taken from the 2014 financial liquidity, solvency, and statements of each company. Compule rafic ability for two compan (LO 2, 4, 5), AP Home Depot Lowe's Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses $77,349 51,352 18,570 696 74 $48,283 31,556 12,022 239 45 Interest expense Other income Income taxes 2,410 1,702 Net income $4,395 $ 2,809 chapter 2 A Further Look at Financial Statements Home Depot Lowe's Balance Sheet Data (End of Year) Current assets Noncurrent assets $14,674 29,650 $ 8,686 22,183 %2430,869 Total assets $44,324 Current liabilities Long-term liabiliti Total stockholders' equity Total liabilities and stockholders' equity $12,706 13,904 17,714 $ 7,751 7,020 16.098 $44,324 $30,869 Net cash provided by operating activities Cash paid for capital expenditures Dividends paid $5,727 $3,558 $1,709 $4,347 $4,010 $428 Average shares outstanding 1,849 1,481 osTroctions! for earch compoa ny, ompute These values oud rotios Compard yese liquidity, brtlability & Earning pea shore. solvieney of The two" compănies

P2-7B Selected financial data of two competitors, Home Depot and Lowe's, are presented here. (All dollars are in millions.) Suppose the data were taken from the 2014 financial liquidity, solvency, and statements of each company. Compule rafic ability for two compan (LO 2, 4, 5), AP Home Depot Lowe's Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses $77,349 51,352 18,570 696 74 $48,283 31,556 12,022 239 45 Interest expense Other income Income taxes 2,410 1,702 Net income $4,395 $ 2,809 chapter 2 A Further Look at Financial Statements Home Depot Lowe's Balance Sheet Data (End of Year) Current assets Noncurrent assets $14,674 29,650 $ 8,686 22,183 %2430,869 Total assets $44,324 Current liabilities Long-term liabiliti Total stockholders' equity Total liabilities and stockholders' equity $12,706 13,904 17,714 $ 7,751 7,020 16.098 $44,324 $30,869 Net cash provided by operating activities Cash paid for capital expenditures Dividends paid $5,727 $3,558 $1,709 $4,347 $4,010 $428 Average shares outstanding 1,849 1,481 osTroctions! for earch compoa ny, ompute These values oud rotios Compard yese liquidity, brtlability & Earning pea shore. solvieney of The two" compănies

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter1: Introduction To Accounting And Business

Section: Chapter Questions

Problem 27E

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