Question: 13.1 TO DO 1: Complete the yellow section for the various ratios, pecentages and calculations. LINK formulas. TO DO 2: Perform vertical (%) and horizontal
| 13.1 | TO DO 1: Complete the yellow section for the various ratios, pecentages and calculations. LINK formulas. | TO DO 2: Perform vertical (%) and horizontal analysis ($ and %) for the balance sheet and income statement. You only need to do vertical for the 2022 year. LINK and use formulas to make life easy. This should go quick! | ||||||||||||||
| NOTE: Kohl's has a year that runs from 2/1/X1 to 1/31/X2. So below the 2021 Income Statement covers the time period of 2/1/21 to 1/31/22. The balance sheet date is 1/31/22. | ||||||||||||||||
| In the same logic, the 2022 Income Statement is 2/1/22 to 1/31/23. NOTE 2: It would confuse people to call the income statement 2023 since 2023 hasn't happened yet. | ||||||||||||||||
| KOHL'S CORPORATION | KOHL'S CORPORATION | KOHL'S CORPORATION | KOHL'S CORPORATION | |||||||||||||
| CONSOLIDATED BALANCE SHEETS (SLIGHTLY MODIFIED) | CONSOLIDATED INCOME STATEMENT (SLIGHTLY MODIFIED) | CONSOLIDATED BALANCE SHEETS (SLIGHTLY MODIFIED) | CONSOLIDATED INCOME STATEMENT (SLIGHTLY MODIFIED) | |||||||||||||
| (Dollars in Millions) | 1/31/23 | 1/31/22 | (Dollars in Millions, Except per Share Data) | 2022 2/1/22 - 1/31/23 | 2021 2/1/21 - 1/31/22 | (Dollars in Millions) | VERT ANALYSIS % | HORIZONTAL ANALYSIS | (Dollars in Millions, Except per Share Data) | VERT ANALYSIS % | HORIZONTAL ANALYSIS | |||||
| 1/31/23 | $ CHANGE (1/31/22 to 1/31/23) | % CHANGE (1/31/22 to 1/31/23) | 2022 2/1/22 - 1/31/23 | $ CHANGE (21 TO 22) | % CHANGE (21 TO 22) | |||||||||||
| Assets | Net sales | 17,161 | 18,471 | Assets | Net sales | |||||||||||
| Current assets: | Other revenue | 937 | 962 | Current assets: | Other revenue | |||||||||||
| Cash and cash equivalents | $153 | $1,587 | Total revenue | 18,098 | 19,433 | Cash and cash equivalents | Total revenue | |||||||||
| Merchandise inventories | 3,189 | 3,067 | Cost of merchandise sold | 11,457 | 11,437 | Merchandise inventories | Cost of merchandise sold | |||||||||
| Accounts Receivable | 394 | 369 | Operating expenses: | Accounts Receivable | Operating expenses: | |||||||||||
| Total current assets | 3,736 | 5,023 | Selling, general, and administrative | 5,587 | 5,478 | Total current assets | Selling, general, and administrative | |||||||||
| Property and equipment, net | 7,926 | 7,304 | Depreciation and amortization | 808 | 838 | Property and equipment, net | Depreciation and amortization | |||||||||
| Operating leases | 2,304 | 2,248 | Operating income | 246 | 1,680 | Operating leases | Operating income | |||||||||
| Other assets | 379 | 479 | Interest expense, net | (304) | (260) | Other assets | Interest expense, net | |||||||||
| Total assets | $14,345 | $15,054 | Income tax expense (benefit) | 39 | (482) | Total assets | Income tax expense | |||||||||
| Net income | (19) | 938 | REMINDER: FORMAT THIS AND MAKE IT PRETTY -- UNDERLINES, ETC. | Net income | ||||||||||||
| Liabilities and Shareholders Equity | Liabilities and Shareholders Equity | |||||||||||||||
| Current liabilities: | OTHER INFORMATION AND TIPS | @ 1/31/23 | @ 1/31/22 | Current liabilities: | ||||||||||||
| Accounts payable | $1,330 | $1,683 | Market price per share of stock at year end | 32.37 | 59.71 | Accounts payable | ||||||||||
| Accrued liabilities | 1,220 | 1,340 | For the year ended | 1/31/23 | 1/31/22 | Accrued liabilities | ||||||||||
| Borrowings under revolving credit facility | 85 | 0 | Dividends paid (in millions, per year) | 243 | 149 | Borrowings under revolving credit facility | ||||||||||
| Current portion of: | Capital expenditures (in millions, per year) | 783 | 570 | Current portion of: | ||||||||||||
| Long-term debt | 275 | 0 | Long-term debt | |||||||||||||
| Finance leases and financing obligations | 94 | 118 | 2022 | 2021 | Finance leases and financing obligations | |||||||||||
| Operating leases | 111 | 145 | Working Capital | Operating leases | ||||||||||||
| Total current liabilities | 3,115 | 3,286 | Current ratio | Total current liabilities | ||||||||||||
| Long-term debt | 1,637 | 1,910 | Inventory turnover | Long-term debt | ||||||||||||
| Finance leases and financing obligations | 2,786 | 2,133 | Days in Inventory | Finance leases and financing obligations | ||||||||||||
| Operating leases | 2,578 | 2,479 | Accounts Receivable Turnover | Operating leases | ||||||||||||
| Deferred income taxes | 129 | 206 | Average collection period | Deferred income taxes | ||||||||||||
| Other long-term liabilities | 337 | 379 | Debt to assets ratio | Other long-term liabilities | ||||||||||||
| Total long-term liabilities | 7467 | 7107 | Times Interest Earned | Total long-term liabilities | ||||||||||||
| Total liabilities | 10582 | 10393 | EARNINGS PER SHARE (NET INCOME / OUTSTANDING CHARES) | Total liabilities | ||||||||||||
| Shareholders equity: | Price-earnings ratio | Shareholders equity: | ||||||||||||||
| Common stock - 378 and 377 million shares issued | 4 | 4 | Gross profit rate | Common stock - 378 and 377 million shares issued | ||||||||||||
| Paid-in capital | 3,479 | 3,375 | Profit margin | Paid-in capital | ||||||||||||
| Treasury stock, at cost, 267 and 246 million shares | (13,715) | (12,975) | Return on assets | Treasury stock, at cost, 267 and 246 million shares | ||||||||||||
| Retained earnings | 13,995 | 14,257 | Asset turnover | Retained earnings | ||||||||||||
| Total shareholders equity | $3,763 | $4,661 | Dividend payout ratio | Total shareholders equity | ||||||||||||
| Total liabilities and shareholders equity | $14,345 | $15,054 | Return on Equity Percentage | Total liabilities and shareholders equity | ||||||||||||
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