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Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents Short-term investments Merchandise inventory-net Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes-net Goodwill Other assets Total assets Current liabilities Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue-extended protection plans Other liabilities Total liabilities Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value $327 139 8,033 600 9,099 11,787 164 188 194 636 $22,068 $462 710 5,294 423 831 1,551 9,271 9,203 529 735 19,738 256

Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents Short-term investments Merchandise inventory-net Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes-net Goodwill Other assets Total assets Current liabilities Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue-extended protection plans Other liabilities Total liabilities Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value $327 139 8,033 600 9,099 11,787 164 188 194 636 $22,068 $462 710 5,294 423 831 1,551 9,271 9,203 529 735 19,738 256

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents Short-term investments Merchandise inventory-net Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes-net Goodwill Other assets Total assets Current liabilities Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue-extended protection plans Other liabilities Total liabilities Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value $327 139 8,033 600 9,099 11,787 164 188 194 636 $22,068 $462 710 5,294 423 831 1,551 9,271 9,203 529 735 19,738 256
Transcribed Image Text:Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents Short-term investments Merchandise inventory-net Other current assets Total current assets Property, less accumulated depreciation Long-term investments Deferred income taxes-net Goodwill Other assets Total assets Current liabilities Short-term borrowings Current maturities of long-term debt Accounts payable Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities Long-term debt, excluding current maturities Deferred revenue-extended protection plans Other liabilities Total liabilities Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value $327 139 8,033 600 9,099 11,787 164 188 194 636 $22,068 $462 710 5,294 423 831 1,551 9,271 9,203 529 735 19,738 256
Capital in excess of par value Retained earnings Accumulated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' equity 2,208 (134) 2,330 $22,068 Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that long-term investments are nonoperating. Feb. 01, 2019 NOA $ 10,693 x
Transcribed Image Text:Capital in excess of par value Retained earnings Accumulated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' equity 2,208 (134) 2,330 $22,068 Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that long-term investments are nonoperating. Feb. 01, 2019 NOA $ 10,693 x
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