Question: In its 2012 annual report Home Depot reported that fiscal
In its 2012 annual report, Home Depot reported that fiscal 2012 sales increased to $74.8 billion (from $70.4 billion the previous fiscal year), while profits increased to $4.5 billion (from $3.9 billion). Total assets increased from $40.5 billion to $41.1 billion, while shareholders’ equity during the same time period remained flat at $17.8 billion. The company’s cash balance increased $507 million with cash flows from operating activities (+$7.0 billion), investing activities (–$1.4 billion), and financing activities (–$5.0 billion). Discuss possible explanations for these financial results.
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