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Identify and Compute Net Operating Assets

Following is the balance sheet for Lowe$$s Companies Inc.

LOWE$$S COMPANIES INC.

Consolidated Balance Sheet

$ millions, except par value Feb. $1,2019$

Current assets

Cash and cash equivalents $$511$

Short$-$term investments $218$

Merchandise inventory$$net $12,561$

Other current assets $938$

Total current assets $14,228$

Property, less accumulated depreciation $18,432$

Long$-$term investments $256$

Deferred income taxes$$net $294$

Goodwill $303$

Other assets $995$

Total assets $$34,508$

Current liabilities

Short$-$term borrowings $$722$

Current maturities of long$-$term debt $1,110$

Accounts payable $8,279$

Accrued compensation and employee benefits $662$

Deferred revenue $1,299$

Other current liabilities $2,425$

Total current liabilities $14,497$

Long$-$term debt, excluding current maturities $14,391$

Deferred revenue$$extended protection plans $827$

Other liabilities $1,149$

Total liabilities $30,864$

Shareholders$$ equity

Preferred stock$$$$5$ par value, none issued $-$

Common stock$$$$0\mathrm{.}50$ par value $401$

Capital in excess of par value $-$

Retained earnings $3,452$

Accumulated other comprehensive loss $(209)$

Total shareholders$$ equity $3,644$

Total liabilities and shareholders$$ equity $$34,508$

Identify and compute net operating assets $($NOA$)$ as of February $1,2019.$ Assume that long$$term investments are nonoperating.

Feb. $01,2019$

NOA

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