Lowe\'s is a leading retailer in the home on the company\'s income statement tha
ID: 2519785 • Letter: L
Question
Lowe's is a leading retailer in the home 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).) t field LOWE'S COM ES, INC. February 3, | 48,230 31,733 16,497 January 28, 2011 2012 % Sales % Sales 48,291 31,571 16,720 100.00% 100.00% $ 46,943] 100.001% Cost of sales 30,747 00.00 00.00 16,196 100.00 1,083 10,525 1,384 197 2,106 4,614 1,708 2,906 9,741 1,174 tion 281 12,917 3,580 156 11,071 5,125 100.00 1,908 Total expenses 0.00 0.00 0.00 00.00 Income tax provision 1,31410000 Net e S 2,266 100.00|%|$ 100.001961 s 3,217| 100.00%Explanation / Answer
Answer
Feb 3, 2012
% of sale
Jan 28, 2011
% of sale
Jan 29, 2010
% of sale
Net Sales
$ 48,230.00
100.00%
$ 48,291.00
100.00%
$ 46,943.00
100.00%
Cost of Sales
$ 31,733.00
65.80%
$ 31,571.00
65.38%
$ 30,747.00
65.50%
Gross Margin
$ 16,497.00
34.20%
$ 16,720.00
34.62%
$ 16,196.00
34.50%
Expenses:
Selling & Admin
$ 11,083.00
22.98%
$ 10,525.00
21.79%
$ 9,741.00
20.75%
Depreciation
$ 1,553.00
3.22%
$ 1,384.00
2.87%
$ 1,174.00
2.50%
Interest net
$ 281.00
0.58%
$ 197.00
0.41%
$ 156.00
0.33%
Total expenses
$ 12,917.00
26.78%
$ 12,106.00
25.07%
$ 11,071.00
23.58%
Pre tax earnings
$ 3,580.00
7.42%
$ 4,614.00
9.55%
$ 5,125.00
10.92%
Income tax provision
$ 1,314.00
2.72%
$ 1,708.00
3.54%
$ 1,908.00
4.06%
Net earnings
$ 2,266.00
4.70%
$ 2,906.00
6.02%
$ 3,217.00
6.85%
Feb 3, 2012
% of sale
Jan 28, 2011
% of sale
Jan 29, 2010
% of sale
Net Sales
$ 48,230.00
100.00%
$ 48,291.00
100.00%
$ 46,943.00
100.00%
Cost of Sales
$ 31,733.00
65.80%
$ 31,571.00
65.38%
$ 30,747.00
65.50%
Gross Margin
$ 16,497.00
34.20%
$ 16,720.00
34.62%
$ 16,196.00
34.50%
Expenses:
Selling & Admin
$ 11,083.00
22.98%
$ 10,525.00
21.79%
$ 9,741.00
20.75%
Depreciation
$ 1,553.00
3.22%
$ 1,384.00
2.87%
$ 1,174.00
2.50%
Interest net
$ 281.00
0.58%
$ 197.00
0.41%
$ 156.00
0.33%
Total expenses
$ 12,917.00
26.78%
$ 12,106.00
25.07%
$ 11,071.00
23.58%
Pre tax earnings
$ 3,580.00
7.42%
$ 4,614.00
9.55%
$ 5,125.00
10.92%
Income tax provision
$ 1,314.00
2.72%
$ 1,708.00
3.54%
$ 1,908.00
4.06%
Net earnings
$ 2,266.00
4.70%
$ 2,906.00
6.02%
$ 3,217.00
6.85%
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