Refer to the financial statements of The Home Depot in Appendix A and Lowe’s in Appendix B at the end of this book, or download the annual reports from the Cases section in the Connect library.
Required:
1. Which of the two basic reporting approaches for the cash flows from operating activities did Lowe’s use? Is this the same as what The Home Depot used?
2. What amount of cash did Lowe’s receive from issuing long- term debt during the year ended January 31, 2014?
3. In the fiscal year ended January 31, 2014, Lowe’s generated $ 4,111 million from operating activities. Where did Lowe’s spend this money? List the two largest cash outflows reported in the investing or financing activities sections. Do Lowe’s uses differ significantly from The Home Depot’s for the same period?