Question: Refer to the financial statements of The Home Depot in

Refer to the financial statements of The Home Depot in Appendix A at the end of this book, or download the annual report from the Cases section in the Connect library.
Required:
1. What amount of Net Sales does the company report during the year ended February 2, 2014?
a. $ 70,395
c. $ 5,385
b. $ 51,422
d. $ 78,812
2. Assuming that Cost of Sales is the company’s term for Cost of Goods Sold, compute the company’s gross profit percentage for the most recent two years.
a. 34.8% and 34.6%
c. 36.6% and 32.8%
b. 34.8% and 32.8%
d. 65.2% and 65.4%
3. Assume that The Home Depot experienced no shrinkage in the most current year. Using the balance sheet and income statement, estimate the amount of purchases in the year ended February 2, 2014.
a. $ 45,130
c. $ 51,422
b. $ 51,769
d. $ 51,075

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  • CreatedNovember 02, 2015
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