Question: Selected financial statement information for Home Depot is given in the table below. Using this information, answer the following questions: (all numbers in millions) Retained

Selected financial statement information for Home Depot is given in the table below. Using this information, answer the following questions: (all numbers in millions) Retained earnings balance €” 01/29/06 $28,686 million

1. Compute Home Depot€™s retained earnings balance at the end of each year.
2. Divide dividends by net income for each year. The result is termed the €œdividend payout ratio.€ Did Home Depot€™s dividend payout ratio increase or decrease overtime?

Net Income Dividends For year ended January 28, 2007 For year ended February 3, 2008 For year ended February 1, 2009 S5,761 4,395 2,260 S1,395 1,709 1,521

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