Lowe’s is a leading retailer in the home improvement field. Complete the compone
ID: 2517389 • Letter: L
Question
Lowe’s is a leading retailer in the home improvement field. Complete the component percentage analysis on the company’s income statement that follows. (Enter your answer as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34).)
Lowe’s is a leading retailer in the home improvement field. Complete the component percentage analysis on the company’s income statement that follows. (Enter your answer as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34).)
LOWE’S COMPANIES, INC. Consolidated Statements of Earnings (in millions, except per share and percentage data) Fiscal Years Ended on February 3, 2012 % Sales January 28, 2011 % Sales January 29, 2010 % Sales Net sales $48,249 100.00 % $48,291 100.00 % $46,934 100.00 % Cost of sales 31,743 ???? 31,567 ??? 30,734 ??? Gross margin 16,506 100.00 16,724 100.00 16,200 100.00 Expenses: Selling, general, and administrative 11,094 ???? 10,533 ???? 9,757 ???? Depreciation 1,545 ???? 1,369 ??? 1,166 ??? Interest-net 282 ????? 212 ??? 168 ??? Total expenses 12,921 0.00 12,114 0.00 11,091 0.00 Pre-tax earnings 3,585 100.00 4,610 100.00 5,109 100.00 Income tax provision 1,317 ???? 1,721 ???? 1,897 ???? Net earnings $2,268 100.00 % $2,889 100.00 % $3,212 100.00 %Explanation / Answer
LOWE’S COMPANIES, INC. Consolidated Statements of Earnings (in millions, except per share and percentage data) Fiscal Years Ended on February 3, 2012 % Sales January 28, 2011 % Sales January 29, 2010 % Sales Net sales $48,249 100.00 % $48,291 100.00 % $46,934 100.00 % Cost of sales 31,743 65.79 % 31,567 65.37 % 30,734 65.48 % Gross margin 16,506 100.00 % 16,724 100.00 16,200 100.00 Expenses: Selling, general, and administrative 11,094 22.99 % 10,533 21.81 % 9,757 20.79 % Depreciation 1,545 3.20 % 1,369 2.83 % 1,166 2.48 % Interest-net 282 .58 % 212 .44 % 168 .36 % Total expenses 12,921 0.00 12,114 0.00 11,091 0.00 Pre-tax earnings 3,585 100.00 % 4,610 100.00 5,109 100.00 Income tax provision 1,317 2.73 % 1,721 3.56 % 1,897 4.04 % Net earnings $2,268 100.00 % $2,889 100.00 % $3,212 100.00 %
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