Lowe€™s is a leading retailer in the home improvement field. Complete the component percentage analysis on the company€™s income statement that follows. Discuss any insights provided by thisanalysis.

Transcribed Image Text:

IN MILLIONS, EXCEPT PER SHARE DATA) YEARS ENDED ON FEBRUARY 2, 2007 % SALES FEBRUARY 1, 2006 % SALES Net sales Cost of sales Gross profit Expenses: S 46,927 30,729 16.198 $43.243 28,453 14.790 9,014 142 980 158 10,294 4.496 1,731 $ 2,765 Selling, general, and administrative Store opening costs Depreciation Interest 9,738 146 1,162 154 11,200 4.998 1.893 3,105 Total expenses Pre-Tax earnings Income tax provision Net earnings