S$2-1($Static$)$ Finding and Analyzing Financial Information $[$LO $2-1,$ LO $2-4,$ LO $2-5]$

Refer to the financial statements of The Home Depot in Appendix A$.($Note: Fiscal $2019$ for The Home Depot runs from February $4,2019,$ to February $2,2020.$ As with many retail companies, The Home Depot labels the period $$Fiscal $2019$ even though it ends in the $2020$ calendar year. The label $$Fiscal $2019$ is appropriate because Fiscal $2019$ includes $11$ months from the $2019$ calendar year. The Home Depot explains its choice of fiscal period in Note $1$ to its financial statements.$)$

Required:

$1.$ What were the year$-$end dates for the $$Fiscal $2019$ and $$Fiscal $2018$ periods?

Fiscal $2019$ Fiscal $2018$

a$.$ February $4,2019$ February $2,2018$

b$.$ February $4,2019$ January $28,2018$

c$.$ February $4,2019$ February $2,2020$

d$.$ February $2,2020$ February $3,2019$

multiple choice $1$

Option A

Option B

Option C

Option D

$2.$ Which of the following are the amounts in the company$$s accounting equation $($A $=$ L $+$ SE$)$ for the $2019$ fiscal year$-$end?

multiple choice $2$

$$51,236=$ $$54,352+$ $$(3,116)$

$$54,352=$ $$51,236+3,116$

$$110,225=$ $$72,653+$ $$37,372$

$$14,715=$ $$3,473+$ $$11,242$

$3.$ What is the company$$s current ratio at February $2,2020?$

multiple choice $3$

$1\mathrm{.}08$

$0\mathrm{.}34$

$0\mathrm{.}39$

$1\mathrm{.}07$

$4.$ What does the company$$s current ratio in requirement $3$ indicate?

multiple choice $4$

The company has more than one dollar of current assets for every dollar of current liabilities due in the next year.

The company has less than one dollar of current assets for every dollar of current liabilities due in the next year.

Less than half of the company$$s assets are current.

Less than half of the company$$s liabilities are current.