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 of the text's Web site at www.mhhe.com/phillips4e.
Required:
1. Refer to the notes to the financial statements to determine how much The Home Depot and Lowe's each spent on advertising expenses in the year ended January 30, 2011 (fiscal 2010).
2. How much did The Home Depot and Lowe's each owe for salaries and wages at January 30, 2011? Provide one reason that would explain the difference between the two companies' accrued payroll liabilities.