1. How much did The Home Depot’s sales revenue increase or decrease in the year ended January 29, 2017?

a. Decreased $6,076 (million) 

b. Decreased $948 (million) 

c. Increased $6,076 (million)

d. Increased $948 (million)

2. What is the largest expense on the income statement for the year ended January 29, 2017, and how much did it change from the previous year?

a. Cost of Sales, which decreased $4,028 (million)

b. Cost of Sales, which increased $4,028 (million)

c. Selling, General and Administrative Expenses, which decreased $331 (million)

d. Selling, General and Administrative Expenses, which increased $331 (million)

3. Which of the following was The Home Depot’s net profit margin in the year ended January 29, 2017?

a. $7,957 

b. $6.47 

c. 8.4%

d. 34.2%

Refer to the financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. See S1-1 for further explanation.)