Question: Please solve and show the work for this problem below. This is how the problem was listed exactly. Lowe's Companies, Inc. Common Size Statement of
Please solve and show the work for this problem below. This is how the problem was listed exactly.
| Lowe's Companies, Inc. Common Size Statement of Earnings | 12 Months Ended in Millions $ | Percentages | ||||
| Feb. 01, 2019 | Feb. 02, 2018 | Feb. 03, 2017 | Feb. 01, 2019 | Feb. 02, 2018 | Feb. 03, 2017 | |
| Net sales | $ 71,309 | $ 68,619 | $ 65,017 | |||
| Cost of sales | 48,401 | 46,185 | 43,343 | |||
| Gross margin | 22,908 | 22,434 | 21,674 | |||
| Expenses: | ||||||
| Selling, general and administrative | 17,413 | 14,444 | 14,375 | |||
| Depreciation and amortization | 1,477 | 1,404 | 1,453 | |||
| Operating income | 4,018 | 6,586 | 5,846 | |||
| Interest - net | 624 | 633 | 645 | |||
| Loss on extinguishment of debt | 0 | 464 | 0 | |||
| Pre-tax earnings | 3,394 | 5,489 | 5,201 | |||
| Income tax provision | 1,080 | 2,042 | 2,108 | |||
| Net earnings | $ 2,314 | $ 3,447 | $ 3,093 | |||
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