Lowes Companies, Inc., the secondlargest home improvement retailer, reported the following information (adapted) for its fiscal year

Question:

Lowe’s Companies, Inc., the secondlargest home improvement retailer, reported the following information (adapted) for its fiscal year ended January 31, 2011:


Lowe’s Companies, Inc., the secondlargest home improvement retai


Requirements
1. Compute profit margin for the year ended January 31, 2011.
2. Compute asset turnover for the year ended January 31, 2011.
3. Compute return on assets for the year ended January 31,2011.

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Financial accounting

ISBN: 978-0132751124

9th edition

Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom

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