Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $...

 

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Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents $327 Short-term investments 139 Merchandise inventory-net 8,033 Other current assets 600 Total current assets 9,099 Property, less accumulated depreciation 11,787 Long-term investments 164 Deferred income taxes-net 188 Goodwill 194 Other assets 636 Total assets $22,068 Current liabilities Short-term borrowings $462 Current maturities of long-term debt 710 Accounts payable 5,294 Accrued compensation and employee benefits 423 Deferred revenue 831 Other current liabilities 1,551 Total current liabilities 9,271 Long-term debt, excluding current maturities 9,203 Deferred revenue-extended protection plans 529 Other liabilities 735 Total liabilities 19,738 Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value 256 Capital in excess of par value Retained earnings 2,208 Accumulated other comprehensive loss (134) Total shareholders' equity 2,330 $22,068 Total liabilities and shareholders' equity Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that long-term investments are nonoperating. Following is the balance sheet for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Balance Sheet $ millions, except par value Feb. 1, 2019 Current assets Cash and cash equivalents $327 Short-term investments 139 Merchandise inventory-net 8,033 Other current assets 600 Total current assets 9,099 Property, less accumulated depreciation 11,787 Long-term investments 164 Deferred income taxes-net 188 Goodwill 194 Other assets 636 Total assets $22,068 Current liabilities Short-term borrowings $462 Current maturities of long-term debt 710 Accounts payable 5,294 Accrued compensation and employee benefits 423 Deferred revenue 831 Other current liabilities 1,551 Total current liabilities 9,271 Long-term debt, excluding current maturities 9,203 Deferred revenue-extended protection plans 529 Other liabilities 735 Total liabilities 19,738 Shareholders' equity Preferred stock-$5 par value, none issued Common stock-$0.50 par value 256 Capital in excess of par value Retained earnings 2,208 Accumulated other comprehensive loss (134) Total shareholders' equity 2,330 $22,068 Total liabilities and shareholders' equity Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that long-term investments are nonoperating.

Answer rating: 100% (QA)

Operating assets can be computed as Merchandise inventory net Other cu... View the full answer