a. 1. What is the balance in receivables at February 28, 2009 and March 1, 2008

2. Comment on the trend in receivables.

3. What is the balance in merchandize inventories at February 28, 2009 and March 1, 2008?

4. Comment on the trend in merchandise inventories.

5. Speculate on what the trend in receivable indicates vs. the trend in merchandise inventories.

b. 1. What does it mean to have a consolidated balance sheet?

2. Comment on the consolidation policy.

c. Comment on the use of estimates.

d. Comment on the fiscal year.

e. Cash and cash equivalents'are they presented conservatively?

f. 1. Comment on the inventory loss reserve.

2. What depreciation methods are generally used for income tax purposes?

3. Why the difference in depreciation between financial reporting and tax purposes?

Transcribed Image Text:

CONSOLIDATED BALANCE SHEETS $in millions, except per share and share amounts) February 28, 2009 March 1, 2008 Assets Current Assets S 498 Cash and cash equivalents Short-term investments Receivables Merchandise inventories Other current assets 1,868 4,753 1,062 8,192 S 1438 64 549 4,708 583 7,342 Total current assets Property and Equipment Land and building 755 2,013 4,060 112 6,940 766 4,174 2,203 732 1,752 3,057 67 5,608 2,302 3,306 1,088 Leasehold improvements Fixtures and equipment Property under capital lease Less accumulated depreciation Net property and equipment Goodwill Assets (continued) Tradenames Customer Relationships Equity and Other Investments Other Assets Total Assets 173 322 395 367 $15,826 97 605 315 $12,758