1. Does Lowe’s report more or less Cash and Cash Equivalents than The Home Depot at the end of fiscal 2016?

2. According to the company’s management and independent registered public accounting firm, were the internal controls over financial reporting at Lowe’s and its subsidiaries effective at that time? Which, if any, subsidiaries were excluded from this assessment?

Refer to the financial statements of The Home Depot in Appendix A and Lowe’s in Appendix B at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. Fiscal 2016 for Lowe’s runs from January 30, 2016, to February 3, 2017).