Prepare the managerial balance sheet of Lowes from the following company consolidated balance sheet: In millions Fiscal
Question:
Prepare the managerial balance sheet of Lowe’s from the following company consolidated balance sheet:
In millions Fiscal year-end 2008
Assets
Current assets
Cash and cash equivalents.............. $ 245
Short-term investments.............. 416
Merchandise inventories............ 8,209
Deferred income taxes.............. 166
Other current assets.............. 215
Total current assets.............. 9,251
Property, less accumulated depreciation...... 22,722
Long-term investments.............. 253
Other assets..............460
Total assets.................. $32,686
Liabilities and shareholders’ equity
Current liabilities
Short-term borrowings.............. $ 987
Current portion of long-term debt......... 34
Accounts payable................ 4,109
Accrued compensation and employees benefits.... 434
Self-insurance liabilities.............. 751
Deferred revenue............... 674
Other current liabilities.............. 1,033
Total current liabilities.............. 8,022
Long-term debt................ 5,039
Deferred income taxes, net............ 660
Other liabilities................ 910
Total liabilities................. 14,631
Shareholders’ equity
Common stock................. 735
Capital-in-excess of par value........... 277
Retained earnings................. 17,049
Accumulated other comprehensive income (loss) .. (6)
Total shareholders’ equity ...........18,055
Total liabilities and shareholders’ equity...... $32,686
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
Step by Step Answer:
Finance for Executives Managing for Value Creation
ISBN: 978-0538751346
4th edition
Authors: Gabriel Hawawini, Claude Viallet