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{"sheet":"Pg1","index":0,"n_rows":60,"n_cols":7,"rows_kept":60,"cut":false,"hidden":false,"merged":[[105,4,105,6],[106,4,106,6],[107,4,107,6],[90,4,90,6],[91,4,91,6],[92,4,92,6],[93,4,93,6],[108,4,108,6],[120,4,120,6],[121,4,121,6],[110,4,110,6],[111,4,111,6],[112,4,112,6],[114,4,114,6],[115,4,115,6],[116,4,116,6],[117,4,117,6],[118,4,118,6],[119,4,119,6],[109,4,109,6],[97,4,97,6],[98,4,98,6],[99,4,99,6],[100,4,100,6],[75,4,75,6],[76,4,76,6],[77,4,77,6],[68,4,68,6],[78,4,78,6],[79,4,79,6],[94,4,94,6],[96,4,96,6],[83,4,83,6],[84,4,84,6],[85,4,85,6],[86,4,86,6],[87,4,87,6],[89,4,89,6],[80,4,80,6],[81,4,81,6],[101,4,101,6],[102,4,102,6],[103,4,103,6],[61,4,62,5],[63,4,63,6],[64,4,64,6],[65,4,65,6],[69,4,69,6],[70,4,70,6],[71,4,71,6],[72,4,72,6],[74,4,74,6],[50,4,50,6],[51,1,51,3],[51,4,51,6],[52,1,52,3],[52,4,52,6],[67,4,67,6],[66,4,66,6],[41,1,41,3],[44,4,44,6],[53,1,53,3],[53,4,53,6],[46,1,46,3],[46,4,46,6],[47,4,47,6],[49,1,49,3],[49,4,49,6],[50,1,50,3],[45,1,45,3],[45,4,45,6],[54,1,57,3],[57,4,57,6],[58,1,58,3],[59,1,59,3],[60,1,60,3],[37,1,37,3],[37,4,37,6],[38,1,38,3],[38,4,38,6],[13,1,13,3],[14,1,15,3],[39,1,39,3],[39,4,39,6],[40,1,40,3],[40,4,40,6],[32,1,32,3],[32,4,32,6],[33,1,33,3],[34,1,34,3],[34,4,34,6],[35,1,35,3],[35,4,35,6],[36,1,36,3],[36,4,36,6],[27,4,27,6],[28,1,28,3],[28,4,28,6],[8,1,8,3],[9,1,9,3],[10,1,10,3],[30,1,30,3],[30,4,30,6],[31,1,31,3],[31,4,31,6],[11,1,11,3],[12,1,12,3],[16,1,16,3],[17,1,17,3],[29,1,29,3],[20,1,20,3],[21,1,21,3],[22,1,22,3],[23,1,23,3],[24,1,24,3],[25,1,25,3],[26,1,26,3],[18,1,18,3],[19,1,19,3],[27,1,27,3],[1,1,1,3],[1,5,1,7],[2,1,2,3],[3,1,3,3],[5,1,5,3],[5,6,5,7],[6,1,6,3],[7,1,7,3],[7,6,7,8],[4,1,4,3],[4,6,4,7]]}
[null,null,null,"Windows"]
[null,"Annual Report Project",null,null,"First Name:","Renee"]
[null,"Lowe's Companies, Inc. - Fiscal 2015",null,null,"Last Name:","Bolduc"]
[null,null,null,null,"ID Code:","61732179"]
[null,"",null,null,null,"Bruce Wiggett","Instructor"]
[null,"Project is Activated",null,null,null,"Online","Class Time"]
[null,""]
[null,"",null,null,null,"000333128","Seat# or Student ID#"]
[null,"Save your project by following these directions - - - - - - - - - - - - - - -",null,null,"-"]
[null,""]
[null,""]
[null,"Your Project Contains 16 Tabs -- Pg1 to Pg16"]
[null,""]
[]
[null,"Print Lowe's Financial Statements"]
[]
[]
[null," To print Lowe's financial statements, follow the directions below.  After you print"]
[null," the financial statements, fill-in the three basic information questions on this page."]
[]
[null," This ARP is for Lowe's 2015 fiscal year which ended on January 29, 2016. Be sure to follow"]
[null," the directions below for printing the 2015 fiscal year financial statements.  "]
[null," See your instructor if you have any questions concerning the fiscal year of the statements."]
[]
[null," Use Adobe Acrobat to open the file Lowe's 2015 Annual Report.pdf.  This file is located"]
[null," in the Company Financial Statements folder that is under the Red Company 10e folder."]
[]
[]
[null," Print the following from Lowe's Fiscal 2015 Annual Report:"]
[null,"           _ Report of Independent Registered Public Accounting Firm  (PDF pg 1 / report pg 32)"]
[null,"           _ Consolidated Statements of Earnings  (PDF pg 3 / report pg 34)"]
[null,"           _ Consolidated Balance Sheets  (PDF pg 4 / report pg 35)"]
[null,"           _ Consolidated Statements of Shareholders' Equity  (PDF pg 5 / report pg 36)"]
[null,"           _ Consolidated Statements of Cash Flows  (PDF pg 6 / report pg 37)"]
[null,"           _ Notes to Consolidated Financial Statements  "]
[null,"                    (print the first page and the fifth page of the Notes located on PDF pgs 7 and 11 / report pgs 38 and 42)"]
[]
[null," Be careful not to print out the entire annual report.  Go to the correct page in the "]
[null," PDF document, select File, then Print, then Current Page."]
[]
[]
[null," 1.  Lowe's Fiscal 2015 year ended on what date?"]
[]
[null,null,"2016-01-29"]
[null,null,"(mm/dd/yyyy)"]
[]
[null," 2.  List the name of Lowe's Independent Registered Public Accounting Firm:"]
[]
[null,null,"DELOITTE & TOUCHE LLP "]
[]
[null," 3.  Revenue Recognition"]
[null,"      Record below when Lowe's recognizes revenue from the sale of merchandise.  This can"]
[null,"      be found in Notes to Consolidated Financial Statements under \"Revenue Recognition\"."]
[]
[null,"As found in the Notes section of the Consolidated Financial Statements for \"Revenue recogniition\": The Company recognizes revenues, net of sales tax, when sales transactions occur and customers take possession of the merchandise.\" This occurs during the year accounting period, January 29, 2016, and January 30, 2015, respectively. "]
[]
[]
[]
[]
[null,"As you work on your project, be sure to save your file often."]

{"sheet":"Pg2","index":1,"n_rows":41,"n_cols":10,"rows_kept":41,"cut":false,"hidden":false,"merged":[[1,1,1,8],[3,1,3,9],[5,1,5,9],[15,2,15,3],[15,5,15,6],[15,8,15,9],[9,1,9,9],[6,1,6,9],[40,1,40,9],[7,1,7,9],[8,1,8,9],[16,2,16,3],[16,5,16,6],[16,8,16,9],[11,1,11,9],[12,1,12,9],[13,1,13,9]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,"Pg. 2"]
[]
[null,"Vertical Analysis of the Income Statement (Common-Size Statements)"]
[]
[]
[null,"      Use the data from Lowe's Consolidated Statements of Earnings to fill in Fiscal 2015 below."]
[null,"      Enter the amounts exactly as they are shown on the financial statement, which are in millions."]
[]
[]
[]
[null,"Lowe's"]
[null,"Consolidated Statements of Earnings"]
[null,"(Dollars in Millions)"]
[]
[null,null,"Fiscal 2015",null,null,"Fiscal 2014",null,null,"Fiscal 2013"]
[null,null,"ended January 29, 2016",null,null,"ended January 30, 2015",null,null,"ended January 31, 2014"]
[null,null,"Dollars","%",null,"Dollars","%",null,"Dollars","%"]
[]
[]
[null," Net Sales",59074,{"$f":"IF($C$21 > 0,ROUND(($C21/$C$21),4), 0)","v":1},null,56223,{"$f":"IF($F$21 > 0,ROUND(($F21/$F$21),4), 0)","v":1},null,53417,{"$f":"IF($I$21 > 0,ROUND(($I21/$I$21),4), 0)","v":1}]
[null," Cost of Sales",38504,{"$f":"IF($C$21 > 0,ROUND(($C22/$C$21),4), 0)","v":0.65180000000000005},null,36665,{"$f":"IF($F$21 > 0,ROUND(($F22/$F$21),4), 0)","v":0.65210000000000001},null,34941,{"$f":"IF($I$21 > 0,ROUND(($I22/$I$21),4), 0)","v":0.65410000000000001}]
[null,"     Gross Margin",{"$f":"C21-C22","v":20570},{"$f":"IF($C$21 > 0,ROUND(($C23/$C$21),4), 0)","v":0.34820000000000001},null,{"$f":"F21-F22","v":19558},{"$f":"IF($F$21 > 0,ROUND(($F23/$F$21),4), 0)","v":0.34789999999999999},null,{"$f":"I21-I22","v":18476},{"$f":"IF($I$21 > 0,ROUND(($I23/$I$21),4), 0)","v":0.34589999999999999}]
[]
[null," Expenses:"]
[null,"   Selling, General and Admin.",14115,{"$f":"IF($C$21 > 0,ROUND(($C26/$C$21),4), 0)","v":0.2389},null,13281,{"$f":"IF($F$21 > 0,ROUND(($F26/$F$21),4), 0)","v":0.23619999999999999},null,12865,{"$f":"IF($I$21 > 0,ROUND(($I26/$I$21),4), 0)","v":0.24079999999999999}]
[null,"   Depreciation",1484,{"$f":"IF($C$21 > 0,ROUND(($C27/$C$21),4), 0)","v":2.5100000000000001E-2},null,1485,{"$f":"IF($F$21 > 0,ROUND(($F27/$F$21),4), 0)","v":2.64E-2},null,1462,{"$f":"IF($I$21 > 0,ROUND(($I27/$I$21),4), 0)","v":2.7400000000000001E-2}]
[null,"   Interest - net",552,{"$f":"IF($C$21 > 0,ROUND(($C28/$C$21),4), 0)","v":9.2999999999999992E-3},null,516,{"$f":"IF($F$21 > 0,ROUND(($F28/$F$21),4), 0)","v":9.1999999999999998E-3},null,476,{"$f":"IF($I$21 > 0,ROUND(($I28/$I$21),4), 0)","v":8.8999999999999999E-3}]
[null,"     Total Expenses",{"$f":"SUM(C26:C28)","v":16151},{"$f":"IF($C$21 > 0,ROUND(($C29/$C$21),4), 0)","v":0.27339999999999998},null,{"$f":"SUM(F26:F28)","v":15282},{"$f":"IF($F$21 > 0,ROUND(($F29/$F$21),4), 0)","v":0.27179999999999999},null,{"$f":"SUM(I26:I28)","v":14803},{"$f":"IF($I$21 > 0,ROUND(($I29/$I$21),4), 0)","v":0.27710000000000001}]
[]
[null,"     Pre-Tax Earnings",{"$f":"C23-C29","v":4419},{"$f":"IF($C$21 > 0,ROUND(($C31/$C$21),4), 0)","v":7.4800000000000005E-2},null,{"$f":"F23-F29","v":4276},{"$f":"IF($F$21 > 0,ROUND(($F31/$F$21),4), 0)","v":7.6100000000000001E-2},null,{"$f":"I23-I29","v":3673},{"$f":"IF($I$21 > 0,ROUND(($I31/$I$21),4), 0)","v":6.88E-2}]
[]
[null," Income Tax Provision",1873,{"$f":"IF($C$21 > 0,ROUND(($C33/$C$21),4), 0)","v":3.1699999999999999E-2},null,1578,{"$f":"IF($F$21 > 0,ROUND(($F33/$F$21),4), 0)","v":2.81E-2},null,1387,{"$f":"IF($I$21 > 0,ROUND(($I33/$I$21),4), 0)","v":2.5999999999999999E-2}]
[]
[]
[null,"     Net Earnings",{"$f":"C31-C33","v":2546},{"$f":"IF($C$21 > 0,ROUND(($C36/$C$21),4), 0)","v":4.3099999999999999E-2},null,{"$f":"F31-F33","v":2698},{"$f":"IF($F$21 > 0,ROUND(($F36/$F$21),4), 0)","v":4.8000000000000001E-2},null,{"$f":"I31-I33","v":2286},{"$f":"IF($I$21 > 0,ROUND(($I36/$I$21),4), 0)","v":4.2799999999999998E-2}]
[null,null,null,"        **",null,null,"        **",null,null,"        **"]
[null," Basic Earnings per Common Share",2.73,null,null,2.71,null,null,2.14]
[]
[]
[null," **  % columns may not add-up due to rounding"]

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[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,null,null,null,"Pg. 3"]
[]
[null,"Horizontal Analysis of the Income Statement"]
[]
[null,"     Enter the amounts for Fiscal 2015 for the following income statement items.  Then calculate and enter the"]
[null,"     Dollar Change and the % Change from Fiscal 2014 to Fiscal 2015.  Enter the dollar amounts just as they are"]
[null,"     shown on the financial statement.  Round the percentages to 2 decimal places.  xx.xx%"]
[]
[]
[null,null,null,null,"Dollar Change",null,null,null,null,"Dollar Change"]
[null,null,"Fiscal",null,"% Change",null,null,"Fiscal",null,"% Change",null,null,"Fiscal"]
[null,null,"2015",null,"2014 to 2015",null,null,"2014",null,"2013 to 2014",null,null,"2013"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Net Sales",59074,null,2851,null,null,56223,null,{"$f":"H15-M15","v":2806},null,null,53417]
[null,null,null,null,5.07,"%",null,null,null,{"$f":"ROUND((J15/M15)*100,2)","v":5.25},"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Cost of Sales",38504,null,1839,null,null,36665,null,{"$f":"H19-M19","v":1724},null,null,34941]
[null,null,null,null,5.01,"%",null,null,null,{"$f":"ROUND((J19/M19)*100,2)","v":4.93},"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Gross Margin",20570,null,1012,null,null,19558,null,{"$f":"H23-M23","v":1082},null,null,18476]
[null,null,null,null,5.17,"%",null,null,null,{"$f":"ROUND((J23/M23)*100,2)","v":5.86},"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Selling, General and",14115,null,834,null,null,13281,null,{"$f":"H27-M27","v":416},null,null,12865]
[null,"Administrative",null,null,6.28,"%",null,null,null,{"$f":"ROUND((J27/M27)*100,2)","v":3.23},"%"]
[null,null,null,null,"xx.xx%"]
[]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Pre-Tax Earnings",4419,null,143,null,null,4276,null,{"$f":"H32-M32","v":603},null,null,3673]
[null,null,null,null,3.34,"%",null,null,null,{"$f":"ROUND((J32/M32)*100,2)","v":16.420000000000002},"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Income Tax Provision",1873,null,297,null,null,1578,null,{"$f":"H36-M36","v":191},null,null,1387]
[null,null,null,null,18.59,"%",null,null,null,{"$f":"ROUND((J36/M36)*100,2)","v":13.77},"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null," Net Earnings",-11732,null,9034,null,null,2698,null,{"$f":"H40-M40","v":412},null,null,2286]
[null,null,null,null,76.98,"%",null,null,null,{"$f":"ROUND((J40/M40)*100,2)","v":18.02},"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xx.xx",null,"$xx.xx"]
[null,"Basic Earnings Per Share",2.73,null,0.02,null,null,2.71,null,{"$f":"H44-M44","v":0.56999999999999984},null,null,2.14]
[null,null,null,null,0.74,"%",null,null,null,{"$f":"ROUND((J44/M44)*100,2)","v":26.64},"%"]
[null,null,null,null,"xx.xx%"]

{"sheet":"Pg4","index":3,"n_rows":57,"n_cols":9,"rows_kept":57,"cut":false,"hidden":false,"merged":[[1,1,1,7],[3,1,3,8],[5,1,5,8],[7,1,7,8],[6,1,6,8],[56,1,56,8],[8,1,8,8],[15,2,15,3],[15,5,15,6],[11,1,11,8],[9,1,9,8],[12,1,12,8],[13,1,13,8],[14,2,14,3],[14,5,14,6]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,"Pg. 4"]
[]
[null,"Vertical Analysis of the Balance Sheet (Common-Size Statements)"]
[]
[]
[null,"      Use the data from Lowe's Consolidated Balance Sheets to fill in Fiscal 2015 below."]
[null,"      Enter the amounts exactly as they are shown on the financial statement, which are in millions."]
[]
[]
[]
[null,"Lowe's"]
[null,"Consolidated Balance Sheets"]
[null,"(Dollars in Millions)"]
[null,null,"Fiscal 2015",null,null,"Fiscal 2014"]
[null,null,"as of January 29, 2016",null,null,"as of January 30, 2015"]
[null,null,"Dollars","%",null,"Dollars","%"]
[null," Assets"]
[null," CURRENT ASSETS:"]
[null,"   Cash and Cash Equivalents",405,{"$f":"IF($C$30 > 0,ROUND(($C20/$C$30),4), 0)","v":1.2999999999999999E-2},null,466,{"$f":"IF($F$30 > 0,ROUND(($F20/$F$30),4), 0)","v":1.47E-2}]
[null,"   Short-Term Investments",307,{"$f":"IF($C$30 > 0,ROUND(($C21/$C$30),4), 0)","v":9.7999999999999997E-3},null,125,{"$f":"IF($F$30 > 0,ROUND(($F21/$F$30),4), 0)","v":3.8999999999999998E-3}]
[null,"   Merchandise Inventory - net",9458,{"$f":"IF($C$30 > 0,ROUND(($C22/$C$30),4), 0)","v":0.30249999999999999},null,8911,{"$f":"IF($F$30 > 0,ROUND(($F22/$F$30),4), 0)","v":0.28089999999999998}]
[null,"   Other Current Assets ",391,{"$f":"IF($C$30 > 0,ROUND(($C23/$C$30),4), 0)","v":1.2500000000000001E-2},null,349,{"$f":"IF($F$30 > 0,ROUND(($F23/$F$30),4), 0)","v":1.0999999999999999E-2}]
[]
[null,"                    Total Current Assets",{"$f":"SUM(C20:C23)","v":10561},{"$f":"IF($C$30 > 0,ROUND(($C25/$C$30),4), 0)","v":0.33779999999999999},null,{"$f":"SUM(F20:F23)","v":9851},{"$f":"IF($F$30 > 0,ROUND(($F25/$F$30),4), 0)","v":0.31059999999999999}]
[null," Property, Less Accumulated Depreciation",19577,0.62609999999999999,null,20034,0.63160000000000005]
[null," Long-Term Investments",222,7.1000000000000004E-3,null,354,1.12E-2]
[null," Deferred Income Taxes - net",241,7.7000000000000002E-3,null,133,4.1999999999999997E-3]
[null," Other Assets",665,2.1299999999999999E-2,null,1349,4.2500000000000003E-2]
[null,"Total Assets",{"$f":"C25+SUM(C26:C29)","v":31266},1,null,{"$f":"F25+SUM(F26:F29)","v":31721},1]
[null," "]
[null," Liabilities and Shareholders' Equity"]
[null," CURRENT LIABILITIES:"]
[null,"   Short-term Borrowings",43,{"$f":"IF($C$54 > 0,ROUND(($C34/$C$54),4), 0)","v":1.4E-3},null,0,{"$f":"IF($F$54 > 0,ROUND(($F34/$F$54),4), 0)","v":0}]
[null,"   Current Maturities of Long-Term Debt",1061,3.39E-2,null,552,1.7399999999999999E-2]
[null,"   Accounts Payable",5633,0.1802,null,5124,0.1615]
[null,"   Accrued Compensation and Employee Benefits",820,2.6200000000000001E-2,null,773,2.4400000000000002E-2]
[null,"   Deferred Revenue",1078,3.4500000000000003E-2,null,979,3.09E-2]
[null,"   Other Current Liabilities",1857,5.9400000000000001E-2,null,1920,6.0499999999999998E-2]
[]
[null,"                    Total Current Liabilities",{"$f":"SUM(C34:C39)","v":10492},{"$f":"IF($C$54 > 0,ROUND(($C41/$C$54),4), 0)","v":0.33560000000000001},null,{"$f":"SUM(F34:F39)","v":9348},{"$f":"IF($F$54 > 0,ROUND(($F41/$F$54),4), 0)","v":0.29470000000000002}]
[null," Long-Term Debt, Excluding Current Maturities ",11545,{"$f":"IF($C$54 > 0,ROUND(($C42/$C$54),4), 0)","v":0.36930000000000002},null,10806,{"$f":"IF($F$54 > 0,ROUND(($F42/$F$54),4), 0)","v":0.3407}]
[null," Deferred Revenue - Extended Protection Plans",729,{"$f":"IF($C$54 > 0,ROUND(($C43/$C$54),4), 0)","v":2.3300000000000001E-2},null,730,{"$f":"IF($F$54 > 0,ROUND(($F43/$F$54),4), 0)","v":2.3E-2}]
[null," Other Liabilities",846,{"$f":"IF($C$54 > 0,ROUND(($C44/$C$54),4), 0)","v":2.7099999999999999E-2},null,869,{"$f":"IF($F$54 > 0,ROUND(($F44/$F$54),4), 0)","v":2.7400000000000001E-2}]
[null,"Total Liabilities",{"$f":"C41+SUM(C42:C44)","v":23612},{"$f":"IF($C$54 > 0,ROUND(($C45/$C$54),4), 0)","v":0.75519999999999998},null,{"$f":"F41+SUM(F42:F44)","v":21753},{"$f":"IF($F$54 > 0,ROUND(($F45/$F$54),4), 0)","v":0.68579999999999997}]
[]
[null," SHAREHOLDERS' EQUITY"]
[null,"   Preferred Stock",0,{"$f":"IF($C$54 > 0,ROUND(($C48/$C$54),4), 0)","v":0},null,0,{"$f":"IF($F$54 > 0,ROUND(($F48/$F$54),4), 0)","v":0}]
[null,"   Common Stock",455,1.46E-2,null,480,1.5100000000000001E-2]
[null,"   Capital in Excess of Par Value",0,0,null,0,0]
[null,"   Retained Earnings",7593,0.2429,null,9591,0.3024]
[null,"   Accumulated Other Comprehensive Income",-394,-1.26E-2,null,-103,-3.2000000000000002E-3]
[null,"Total Shareholders' Equity",{"$f":"SUM(C48:C52)","v":7654},0.24479999999999999,null,{"$f":"SUM(F48:F52)","v":9968},0.31419999999999998]
[null,"Total Liabilities and Shareholders' Equity",{"$f":"C45+C53","v":31266},1,null,{"$f":"F45+F53","v":31721},1]
[null,null,null,"        **",null,null,"        **"]
[]
[null," ** % columns may not add-up due to rounding"]

{"sheet":"Pg5","index":4,"n_rows":50,"n_cols":8,"rows_kept":50,"cut":false,"hidden":false,"merged":[[9,1,9,8],[38,7,38,8],[12,4,12,5],[13,4,13,5],[11,4,11,5],[2,1,2,8],[8,1,8,8],[3,1,3,8],[5,1,5,8],[7,1,7,8],[6,1,6,8]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,"Pg. 5"]
[]
[null,"Horizontal Analysis of the Balance Sheet"]
[]
[null,"     For the following balance sheet items enter the amounts for Fiscal 2015, and then"]
[null,"     calculate the Dollar Change and the % Change from 2014 to 2015.  Enter the 2015"]
[null,"     dollar amounts as shown on the financial statement, which are in millions."]
[null,"     Round the percentages to 2 decimal places.  xx.xx%"]
[]
[]
[null,null,null,null,"Dollar Change"]
[null,null,"Fiscal",null,"% Change",null,null,"Fiscal"]
[null,null,"2015",null,"2014 to 2015",null,null,"2014"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Merchandise Inventory - net",null,null,null,null,null,8911]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Total Current Assets",null,null,null,null,null,9851]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Property, Less Accumulated Depreciation",null,null,null,null,null,20034]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Total Assets",null,null,null,null,null,31721]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Current Maturities of Long-Term Debt",null,null,null,null,null,552]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Total Current Liabilities",null,null,null,null,null,9348]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Total Liabilities",null,null,null,null,null,21753]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Retained Earnings",null,null,null,null,null,9591]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]
[null,null,"$xxx,xxx",null,"$xxx,xxx"]
[null,"Total Shareholders' Equity",null,null,null,null,null,9968]
[null,null,null,null,null,"%"]
[null,null,null,null,"xx.xx%"]

{"sheet":"Pg6","index":5,"n_rows":62,"n_cols":14,"rows_kept":62,"cut":false,"hidden":false,"merged":[[40,9,40,10],[40,12,40,13],[13,16,13,18],[14,16,14,18],[9,16,9,18],[10,16,10,18],[11,16,11,18],[12,16,12,18],[14,2,14,13],[26,12,26,13],[33,9,33,10],[33,12,33,13],[16,2,16,13],[17,2,17,13],[18,2,18,13],[19,2,19,13],[13,2,13,13],[29,12,29,13],[35,12,35,13],[36,12,36,13],[21,2,21,13],[23,12,23,13],[47,12,47,13],[1,1,1,11],[1,12,1,13],[3,2,3,13],[5,2,5,13],[6,2,6,13],[8,2,8,13],[29,9,29,10],[36,9,36,10],[9,2,9,13],[10,2,10,13],[11,2,11,13],[12,2,12,13],[15,2,15,13],[28,12,28,13],[34,10,34,11],[42,12,42,13],[23,4,23,10],[60,12,60,13],[43,9,43,10],[35,9,35,10],[54,2,54,13],[56,12,56,13],[43,12,43,13],[58,12,58,13],[42,9,42,10],[56,4,56,10],[55,4,55,10],[55,12,55,13],[41,10,41,11],[49,12,49,13],[44,2,44,8]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,null,null,null,"Pg.  6"]
[]
[null,null,"DuPont Analysis  --  Return on Assets"]
[]
[]
[null,null,"Apply DuPont Analysis and the Return on Assets % to evaluate Lowe's overall financial performance."]
[]
[null,null,"Use the information in Lowe's Income Statement and Balance Sheets for Fiscal 2015 and Fiscal 2014 to"]
[null,null,"calculate the four DuPont Ratios and the Return on Assets %.  In the left-hand column enter the names"]
[null,null,"of the financial statement items that will be used in the numerator and the denominator of the ratios."]
[null,null,"Enter the financial statement dollar amounts just as they are shown on the financial statements."]
[null,null,"Round all averages to 0 decimal places -- a whole number  $xxx,xxx"]
[null,null,"Round the percentages to 2 decimal places.  xx.xx%"]
[null,null,"Round the decimal results to 2 decimal places.  xx.xx"]
[]
[null,null,"Note: Since each ratio is being rounded, it is possible that Return on Equity %"]
[null,null,"         will not exactly equal (Profitability x Efficiency x Leverage)."]
[null,null,"         Calculate each ratio separately.  Do not calculate Return on"]
[null,null,"         Equity % by multiplying (Profitability x Efficiency x Leverage).       "]
[]
[null,null,"DuPont Analysis"]
[]
[null,null,"(Profitability)",null,"2015",null,null,null,null,null,null,null,"2014"]
[null,null,"Net Profit Margin %"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[null,null,"Net Earnings",null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,null,null,null,null,null,"%",null,4.8,"%"]
[]
[null,null,null,null,null,null,null,null,"$xxx,xxx","x",null,null,"x"]
[null,null,"(Efficiency)"]
[null,null,"Total Assets Turnover Ratio"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[null,null,null,null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,"Beg. Yr. Amt.",null,"End. Yr. Amt.",null,"Average",null," times",null,1.74]
[]
[null,null,null,null,"$xxx,xxx",null,"$xxx,xxx",null,"$xxx,xxx","x",null,null,"x"]
[null,null,"(Leverage)"]
[null,null,"Assets-to-Equity Ratio"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[null,null,null,null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,"Beg. Yr. Amt.",null,"End. Yr. Amt.",null,"Average",null," to 1",null,2.95]
[]
[null,null,null,null,"$xxx,xxx",null,"$xxx,xxx",null,"$xxx,xxx","=",null,null,"="]
[]
[null,null,"Return on Equity %"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,null,null,null,"%",null,24.73,"%"]
[null,null,null,null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[]
[]
[]
[null,null,"Return on Assets"]
[null,null,null,null,"2015",null,null,null,null,null,null,null,"2014"]
[null,null,"Return on Assets %"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[null,null,null,null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,null,null,null,null,null,"%",null,8.3699999999999992,"%"]
[]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]

{"sheet":"Pg7","index":6,"n_rows":40,"n_cols":11,"rows_kept":40,"cut":false,"hidden":false,"merged":[[22,9,22,10],[19,4,19,7],[17,2,17,10],[19,9,19,10],[11,13,11,15],[12,13,12,15],[14,2,14,10],[13,2,13,10],[11,2,11,10],[12,2,12,10],[1,1,1,8],[1,9,1,10],[3,2,3,10],[5,2,5,10],[39,6,39,7],[39,9,39,10],[25,9,25,10],[31,9,31,10],[32,9,32,10],[29,9,29,10],[38,9,38,10],[36,9,36,10],[32,6,32,7],[25,6,25,7],[15,2,15,10],[24,9,24,10],[9,13,9,15],[10,13,10,15],[6,2,6,10],[8,2,8,10],[9,2,9,10],[10,2,10,10]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,"Pg.  7"]
[]
[null,null,"Profitability Indicators"]
[]
[]
[null,null,"Apply the three Profitability Indicators to evaluate Lowe's profitability."]
[]
[null,null,"Use the information in Lowe's Fiscal 2015 Income Statement to calculate the"]
[null,null,"three Profitability Indicators.  In the left-hand column enter the names of the"]
[null,null,"items that will be used in the numerator and the denominator of the ratios."]
[null,null,"Enter the financial statement dollar amounts just as they are shown on the"]
[null,null,"financial statements."]
[null,null,"Round the percentages to 2 decimal places.  xx.xx%"]
[]
[]
[]
[]
[]
[null,null,null,null,"2015",null,null,null,null,"2014"]
[null,null,"Gross Profit Margin %"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"%",null,34.79,"%"]
[null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,"Operating Profit Margin %"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"%",null,8.52,"%"]
[null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,"Net Profit Margin %"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"%",null,4.8,"%"]
[null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,"$xxx,xxx"]

{"sheet":"Pg8","index":7,"n_rows":78,"n_cols":13,"rows_kept":78,"cut":false,"hidden":false,"merged":[[42,10,42,11],[22,9,22,10],[29,9,29,10],[28,12,28,13],[22,12,22,13],[36,9,36,10],[28,9,28,10],[37,9,37,10],[37,12,37,13],[41,9,41,10],[41,12,41,13],[29,12,29,13],[51,9,51,10],[43,9,43,10],[43,12,43,13],[44,9,44,10],[44,12,44,13],[50,10,50,11],[1,1,1,11],[1,12,1,13],[3,2,3,13],[5,2,5,13],[16,4,16,10],[14,2,14,13],[6,2,6,13],[8,2,8,13],[9,2,9,13],[10,2,10,13],[11,2,11,13],[12,2,12,13],[13,2,13,13],[13,16,13,18],[21,9,21,10],[35,10,35,11],[9,16,9,18],[10,16,10,18],[11,16,11,18],[12,16,12,18],[27,10,27,11],[26,9,26,10],[26,12,26,13],[16,12,16,13],[20,10,20,11],[52,9,52,10],[56,9,56,10],[56,12,56,13],[67,3,67,8],[58,12,58,13],[59,9,59,10],[59,12,59,13],[62,4,62,8],[52,12,52,13],[68,3,68,8],[57,10,57,11],[58,9,58,10],[63,9,63,10],[65,3,65,8],[64,3,64,8],[66,3,66,8],[77,9,77,10],[77,12,77,13],[71,4,71,10],[71,12,71,13],[76,9,76,10],[75,10,75,11]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,null,null,null,"Pg.  8"]
[]
[null,null,"Efficiency Indicators"]
[]
[]
[null,null,"Apply the Efficiency Indicators to drill down into Lowe's efficiency."]
[]
[null,null,"Use the information in Lowe's Income Statement and Balance Sheets for Fiscal 2015 and Fiscal 2014 to"]
[null,null,"calculate the Efficiency Indicators.  In the left-hand column enter the names of the financial"]
[null,null,"statement items that will be used in the numerator and the denominator of the ratios."]
[null,null,"Enter the financial statement dollar amounts just as they are shown on the financial statements."]
[null,null,"Round all averages to 0 decimal places -- a whole number  $xxx,xxx"]
[null,null,"Round the decimal results to 2 decimal places.  xx.xx"]
[]
[]
[null,null,null,null,"2015",null,null,null,null,null,null,null,"2014"]
[null,null,"Accounts Receivable Turnover Ratio"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[null,null,"Net Sales",null,null,null,null,null,59074]
[null,null,null,null,"Beg. Yr. Amt.",null,"End. Yr. Amt.",null,"Average","N/A"," times",null,"N/A"]
[null,null,"Average Accounts Receivable, net",null,0,null,0,null,0,"xx.xx"]
[null,null,null,null,"$xxx,xxx",null,"$xxx,xxx",null,"$xxx,xxx"]
[]
[null,null,"Number of Days' Sales in Receivables "]
[null,null,null,null,null,null,null,null,"xxx"]
[null,null,"Days in a Year (365)",null,null,null,null,null,365]
[null,null,null,null,null,null,null,null,null,0,"days",null,0]
[null,null,"Accounts Receivable Turnover Ratio",null,null,null,null,null,"N/A","xx.xx"]
[null,null,null,null,null,null,null,null,"xx.xx"]
[]
[]
[null,null,"Inventory Turnover Ratio"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,"Beg. Yr. Amt.",null,"End. Yr. Amt.",null,"Average",null," times",null,4.07]
[null,null,null,null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,"$xxx,xxx",null,"$xxx,xxx",null,"$xxx,xxx"]
[]
[null,null,"Number of Days' Sales in Inventory "]
[null,null,null,null,null,null,null,null,"xxx"]
[null,null,"Days in a Year (365)"]
[null,null,null,null,null,null,null,null,null,null,"days",null,89.68]
[null,null,"Inventory Turnover Ratio",null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,null,null,null,null,"xx.xx"]
[]
[]
[null,null,"Accounts Payable Turnover Ratio"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,"Beg. Yr. Amt.",null,"End. Yr. Amt.",null,"Average",null," times",null,7.24]
[null,null,null,null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,"$xxx,xxx",null,"$xxx,xxx",null,"$xxx,xxx"]
[null,null,"Number of Days'"]
[null,null,"Purchases in Accounts Payable "]
[null,null,null,null,null,null,null,null,"xxx"]
[null,null,"Days in a Year (365)"]
[null,null,null,null,null,null,null,null,null,null,"days",null,50.41]
[null,null,"Accounts Payable Turnover Ratio",null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,null,null,null,null,"xx.xx"]
[]
[]
[null,null,null,null,"Cash-to-Cash Cycle"]
[null,null,null,null,null,null,null,null,null,"xx.xx"]
[null,null,null,"Number of Days' Sales in Inventory",null,null,null,null,null,null,null,null,{"$f":"M43","v":89.68}]
[null,null,null,"less Number of Days' Purchases in Accounts Payable",null,null,null,null,null,null,null,null,{"$f":"-M58","v":-50.41}]
[null,null,null,"Net Number of Days Cash is Invested in Inventory",null,null,null,null,null,null,null,null,{"$f":"SUM(M65:M66)","v":39.27000000000001}]
[null,null,null,"plus Number of Days' Sales in Receivables",null,null,null,null,null,0,null,null,{"$f":"M28","v":0}]
[null,null,null,"Cash-to-Cash Days",null,null,null,null,null,null,null,null,{"$f":"SUM(M67:M68)","v":39.27000000000001}]
[]
[]
[null,null,null,null,"2015",null,null,null,null,null,null,null,"2014"]
[null,null,"Fixed Asset Turnover Ratio"]
[null,null,null,null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,"Beg. Yr. Amt.",null,"End. Yr. Amt.",null,"Average",null," times",null,2.75]
[null,null,null,null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,"$xxx,xxx",null,"$xxx,xxx",null,"$xxx,xxx"]

{"sheet":"Pg9","index":8,"n_rows":39,"n_cols":11,"rows_kept":39,"cut":false,"hidden":false,"merged":[[12,13,12,15],[21,9,21,10],[12,2,12,10],[16,4,16,7],[14,2,14,10],[16,9,16,10],[19,9,19,10],[7,2,7,10],[11,13,11,15],[11,2,11,10],[1,1,1,8],[1,9,1,10],[3,2,3,10],[5,2,5,10],[6,2,6,10],[8,2,8,10],[9,13,9,15],[10,13,10,15],[9,2,9,10],[10,2,10,10],[38,6,38,7],[38,9,38,10],[22,9,22,10],[28,9,28,10],[29,9,29,10],[37,9,37,10],[27,7,27,8],[22,6,22,7],[36,7,36,8],[29,6,29,7]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,"Pg.  9"]
[]
[null,null,"Leverage Indicators (at year-end)  --  Interest Coverage "]
[]
[null,null,"Use the information in Lowe's 2015 Balance Sheet and Income Statement to calculate"]
[null,null,"the two \"year-end\" Leverage Indicators and the Times Interest Earned Ratio.  In the"]
[null,null,"left-hand column enter the names of the items that will be used in the numerator"]
[null,null,"and the denominator of the ratios."]
[null,null,"Enter the financial statement dollar amounts just as they are shown on the"]
[null,null,"financial statements."]
[null,null,"Round the percentages to 2 decimal places.  xx.xx%"]
[null,null,"Round the decimal results to 2 decimal places.  xx.xx"]
[]
[]
[]
[null,null,null,null,"2015",null,null,null,null,"2014"]
[null,null,"Debt %"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"%",null,68.58,"%"]
[null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,"Debt-to-Equity Ratio"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"to 1",null,2.1800000000000002]
[null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[]
[]
[null,null,"Times Interest Earned Ratio"]
[null,null,null,null,null,"$xxx,xxx"]
[null,null,"Pre-tax earnings + Interest-net"]
[null,null,null,null,null,null,null,"times",null,9.2899999999999991]
[null,null,"Interest-net",null,null,null,"xx.xx"]
[null,null,null,null,null,"$xxx,xxx"]

{"sheet":"Pg10","index":9,"n_rows":37,"n_cols":10,"rows_kept":37,"cut":false,"hidden":false,"merged":[[34,7,34,8],[9,2,9,10],[1,1,1,8],[1,9,1,10],[3,2,3,10],[5,2,5,10],[6,2,6,10],[8,2,8,10],[7,2,7,10],[16,4,16,7],[16,9,16,10],[14,2,14,10],[19,6,19,7],[19,9,19,10],[10,2,10,10],[36,6,36,7],[21,6,21,7],[28,6,28,7],[36,9,36,10],[22,9,22,10],[28,9,28,10],[33,6,33,7],[35,6,35,7],[29,6,29,7],[27,7,27,8],[26,9,26,10],[29,9,29,10],[26,6,26,7],[22,6,22,7],[33,9,33,10],[35,9,35,10],[9,13,9,15],[12,2,12,10],[10,13,10,15],[12,13,12,15],[11,13,11,15],[11,2,11,10]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,"Pg.  10"]
[]
[null,null,"Liquidity Indicators"]
[]
[null,null,"Use the information in Lowe's 2015 Balance Sheet to calculate the three Liquidity"]
[null,null,"Indicators.  In the left-hand column enter the names of the items that will be"]
[null,null,"used in the calculation."]
[]
[null,null,"Enter the financial statement dollar amounts just as they are shown on the"]
[null,null,"Balance Sheet."]
[]
[null,null,"Round the decimal results to 2 decimal places.  xx.xx"]
[]
[]
[]
[null,null,null,null,"2015",null,null,null,null,"2014"]
[null,null,"Working Capital"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[]
[null,null,"Working Capital",null,null,null,null,null,null,503]
[]
[]
[null,null,"Current Ratio"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"to 1",null,1.05]
[null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,null,"$xxx,xxx"]
[null,null,"(Acid Test Ratio)"]
[null,null,"Quick Ratio"]
[null,null,null,null,null,"$xxx,xxx"]
[null,null,"Cash and Near-Cash Assets"]
[null,null,null,null,null,null,null,"to 1",null,0.06]
[null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,null,"$xxx,xxx"]

{"sheet":"Pg11","index":10,"n_rows":37,"n_cols":10,"rows_kept":37,"cut":false,"hidden":false,"merged":[[22,9,22,10],[19,6,19,7],[28,9,28,10],[26,6,26,7],[26,9,26,10],[19,9,19,10],[12,13,12,15],[1,1,1,8],[10,2,10,10],[6,2,6,10],[8,2,8,10],[7,2,7,10],[1,9,1,10],[3,2,3,10],[5,2,5,10],[12,2,12,10],[11,2,11,10],[9,13,9,15],[9,2,9,10],[10,13,10,15],[11,13,11,15],[37,6,37,7],[37,9,37,10],[14,2,14,10],[16,9,16,10],[27,7,27,8],[33,6,33,7],[33,9,33,10],[36,6,36,7],[29,6,29,7],[29,9,29,10],[16,4,16,7],[28,6,28,7],[22,6,22,7],[20,7,20,8],[21,6,21,7],[21,9,21,10]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,"Pg.  11"]
[]
[null,null,"Statement of Cash Flows Indicators"]
[]
[null,null,"Use the information in Lowe's 2015 Consolidated Statement of Cash Flows to calculate"]
[null,null,"the three Statement of Cash Flows Indicators.  In the left-hand column enter the names"]
[null,null,"of the items that will be used in the calculation."]
[]
[null,null,"Enter the financial statement dollar amounts in millions of dollars as shown on the"]
[null,null,"Consolidated Statement of Cash Flows."]
[]
[null,null,"Round the decimal results to 2 decimal places.  xx.xx"]
[]
[]
[]
[null,null,"(Quality of Income Ratio)",null,"2015",null,null,null,null,"2014"]
[null,null,"Cash Flow to Net Income Ratio"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"to 1",null,1.83]
[null,null,null,null,null,null,"xx.xx"]
[null,null,null,null,null,"$xxx,xxx"]
[null,null,"(Cash Flow Adequacy Ratio)"]
[null,null,"Cash Flow to Capital Expenditures Ratio"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"to 1",null,5.95]
[null,null,"Net Cash Paid to Purchase PP&E",null,null,null,"xx.xx"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,"Free Cash Flow"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,"Net Cash Paid to Purchase PP&E"]
[]
[null,null,"Free Cash Flow",null,null,null,null,null,null,3279]

{"sheet":"Pg12","index":11,"n_rows":56,"n_cols":11,"rows_kept":56,"cut":false,"hidden":false,"merged":[[55,6,55,7],[46,6,46,7],[55,9,55,10],[54,9,54,10],[52,6,52,7],[52,9,52,10],[46,9,46,10],[47,9,47,10],[54,6,54,7],[45,7,45,8],[22,9,22,10],[44,6,44,7],[47,6,47,7],[11,2,11,10],[21,9,21,10],[40,9,40,10],[33,2,33,10],[13,2,13,10],[31,2,31,10],[16,4,16,7],[30,2,30,10],[44,9,44,10],[22,6,22,7],[29,2,29,10],[34,2,34,10],[10,13,10,15],[1,1,1,8],[1,9,1,10],[3,2,3,10],[5,2,5,10],[6,2,6,10],[8,2,8,10],[10,2,10,10],[7,2,7,10],[9,2,9,10],[36,2,36,5],[40,4,40,7],[32,2,32,10],[11,13,11,15],[19,9,19,10],[12,13,12,15],[13,13,13,15],[12,2,12,10],[15,2,15,10],[16,9,16,10]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,"Pg.  12"]
[]
[null,null,"Equity Investor Indicators"]
[]
[null,null,"Use the information in Lowe's Consolidated Statements of Shareholders' Equity"]
[null,null,"to calculate Lowe's Dividend Payout %."]
[null,null,"Use the information at the bottom of Lowe's Consolidated Statements of Earnings and"]
[null,null,"Lowe's Year-End Closing Market Price of 1 Common Share to calculate Lowe's"]
[null,null,"Price-Earnings Ratio and Dividend Yield %."]
[null,null,"Enter the financial statement dollar amounts just as they are shown on the"]
[null,null,"financial statements."]
[null,null,"Round the percentages to 2 decimal places.  xx.xx%"]
[null,null,"Round the decimal results to 2 decimal places.  xx.xx"]
[]
[]
[null,null,null,null,"2015",null,null,null,null,"2014"]
[null,null,"Dividend Payout %"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[null,null,null,null,null,null,null,"%",null,31.8,"%"]
[null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,"$xxx,xxx"]
[]
[]
[]
[null,null,"Year-End Closing Market"]
[null,null,"Price of 1 Common Share"]
[]
[null,null,"The Year-End Closing Market Price of 1 share of Lowe's Common Stock is not given in"]
[null,null,"Lowe's annual report.  The Year-End Closing Market Price is used in the two calculations"]
[null,null,"below.  The last day in Lowe's 2015 fiscal year was Friday, Jan. 29, 2016.  Lowe's"]
[null,null,"common stock trades on the New York Stock Exchange (NYSE).  On the NYSE, "]
[null,null,"Lowe's year-end closing market price on Friday, Jan. 29, 2016 was $71.66."]
[null,null,"Enter that price in the box below."]
[]
[null,null,"2015 Year-End Closing Market Price of 1 Common Share:"]
[null,null,null,null,null,null,"$xx.xx"]
[]
[]
[null,null,"(PE Ratio)",null,"2015",null,null,null,null,"2014"]
[null,null,"Price-Earnings Ratio"]
[]
[null,null,null,null,null,"$xx.xx"]
[]
[null,null,null,null,null,null,null,"times",null,25]
[null,null,"Basic earnings per common share",null,null,null,"xx.xx"]
[null,null,null,null,null,"$xx.xx"]
[]
[]
[null,null,"Dividend Yield %"]
[null,null,null,null,null,"$xx.xx"]
[null,null,"Cash dividends per share"]
[null,null,null,null,null,null,null,"%",null,1.28,"%"]
[null,null,null,null,null,null,"xx.xx%"]
[null,null,null,null,null,"$xx.xx"]

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[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,null,null,null,null,null,null,"Pg. 13"]
[]
[null,"Analytical Observations"]
[]
[]
[null,"  You will now utilize the information developed in Pages 2 to 12 to answer various analytical questions."]
[]
[]
[]
[null," 1. Vertical Analysis of the Income Statement (Pg. 2)"]
[]
[null,"    1> Which fiscal year had the highest Pre-Tax Earnings in terms of total dollars?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014,null,2013]
[]
[null,"    2> Which fiscal year had the highest Total Expenses as a % of Net Sales?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014,null,2013]
[]
[null,"    3> Based on Gross Margin as a % of Net Sales, rank the fiscal years 2015, 2014, and 2013 in terms "]
[null,"         of which year had the highest."]
[null,"         Place a \"1\" in the box of the highest year, a \"2\" in the box of the second highest year, etc."]
[]
[null,null,null,null,null,null,null,null,"2015",null,"2014",null,"2013"]
[]
[]
[null,"    4> Which fiscal year had the highest Net Earnings as a % of Net Sales?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014,null,2013]
[]
[]
[]
[null," 2. Horizontal Analysis of the Income Statement (Pg. 3)"]
[]
[null,"    1> Rank the following items in terms of which had the largest % increase from Fiscal 2013 to "]
[null,"         Fiscal 2014.  Place a \"1\" in the box of the largest, a \"2\" in the box of the second largest, etc."]
[null,null,null,null,null,null,null,null,null,"Selling, General and"]
[null,"Net Sales",null,null,null,"Cost of Sales",null,null,null,"Administrative",null,null,null,"Basic Earnings Per Share"]
[]
[]
[null,"    2> Rank the following items in terms of which had the largest % increase from Fiscal 2014 to "]
[null,"         Fiscal 2015.  Place a \"1\" in the box of the largest, a \"2\" in the box of the second largest, etc."]
[null,null,null,null,null,null,null,null,null,"Selling, General and"]
[null,"Net Sales",null,null,null,"Cost of Sales",null,null,"Administrative",null,null,null,null,"Basic Earnings Per Share"]
[]
[]
[null,"    3> True or False?  In terms of % Change, Basic Earnings Per Share grew more than Net Earnings"]
[null,"         from Fiscal 2013 to Fiscal 2014."]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," True",null," False"]
[]
[null,"    4> True or False?  In terms of % Change, from Fiscal 2014 to Fiscal 2015 Selling, General and Administrative"]
[null,"         increased more than Net Sales."]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," True",null," False"]
[]
[null,"    5> True or False?  In terms of % Change, Cost of Sales had a smaller increase than  "]
[null,"         Net Sales from Fiscal 2014 to Fiscal 2015."]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," True",null," False"]

{"sheet":"Pg14","index":13,"n_rows":64,"n_cols":16,"rows_kept":64,"cut":false,"hidden":false,"merged":[[63,1,63,3],[63,5,63,7],[63,9,63,11],[63,13,63,15],[61,1,61,15],[60,1,60,15],[29,1,29,3],[35,1,35,3],[52,1,52,15],[54,1,54,3],[58,1,58,15],[54,13,54,15],[54,5,54,7],[48,1,48,15],[54,9,54,11],[46,13,46,15],[50,1,50,3],[50,5,50,7],[50,9,50,11],[50,13,50,15],[46,5,46,7],[46,9,46,11],[41,1,41,15],[46,1,46,3],[29,5,29,7],[43,1,43,15],[36,5,36,7],[36,9,36,11],[36,13,36,15],[44,1,44,15],[36,1,36,3],[29,13,29,15],[35,13,35,15],[17,5,17,7],[17,13,17,15],[29,9,29,11],[33,1,33,15],[35,5,35,7],[32,1,32,15],[23,1,23,15],[35,9,35,11],[7,1,7,15],[8,1,8,15],[10,1,10,3],[10,13,10,15],[1,1,1,11],[2,1,2,15],[3,1,3,15],[5,1,5,15],[10,9,10,11],[13,1,13,15],[6,1,6,15],[10,5,10,7],[18,13,18,15],[28,5,28,7],[25,1,25,15],[14,1,14,15],[17,9,17,11],[26,1,26,15],[28,9,28,11],[28,13,28,15],[28,1,28,3],[15,1,15,15],[18,1,18,3],[18,5,18,7],[18,9,18,11]]}
[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,null,null,null,null,null,null,"Pg. 14"]
[]
[null,"Analytical Observations"]
[]
[null," 3. Vertical Analysis of the Balance Sheet (Pg.4)"]
[]
[null,"    1> For fiscal year 2015, rank the following assets in terms of which was the largest as a % of "]
[null,"         Total Assets.  Place a \"1\" in the box of the largest, a \"2\" in the box of the second largest, etc."]
[]
[null,"Cash and Cash Equivalents",null,null,null,"Short-Term Investments",null,null,null,"Merchandise Inventory - net",null,null,null,"Property, Less Accum. Depr."]
[]
[]
[null,"    2> For fiscal year 2015, rank the following items in terms of which was the largest as a"]
[null,"         % of Total Liabilities and Shareholders' Equity.   Place a \"1\" in the box of the largest,"]
[null,"         a \"2\" in the box of the second largest, etc."]
[]
[null,null,null,null,null,"Long-Term Debt,"]
[null,"Accounts Payable",null,null,null,"Excluding Current Maturities",null,null,null,"Common Stock",null,null,null,"Retained Earnings"]
[]
[]
[]
[]
[null," 4. Horizontal Analysis of the Balance Sheet (Pg. 5)"]
[]
[null,"    1> Rank the following items in terms of which had the largest % increase from Fiscal 2014 to"]
[null,"         Fiscal 2015.  Place a \"1\" in the box of the largest, a \"2\" in the box of the second largest, etc."]
[]
[null,null,null,null,null,null,null,null,null,"Current Maturities  "]
[null,"Merchandise Inventory - Net",null,null,null,"Total Current Assets",null,null,null,"of Long-Term Debt",null,null,null,"Total Liabilities"]
[]
[]
[null,"    2> Rank the following items in terms of which had the largest Dollar increase from Fiscal 2014 to "]
[null,"         Fiscal 2015.  Place a \"1\" in the box of the largest, a \"2\" in the box of the second largest, etc."]
[]
[null,null,null,null,null,null,null,null,null,"Current Maturities  "]
[null,"Merchandise Inventory - Net",null,null,null,"Total Current Assets",null,null,null,"of Long-Term Debt",null,null,null,"Total Liabilities"]
[]
[]
[]
[]
[null," 5. DuPont Analysis -- Return on Assets Ratio (Pg. 6)"]
[]
[null,"    1> Which of the following increased from Fiscal 2014 to Fiscal 2015?  [\"x\" each item that increased]"]
[]
[]
[null,null,null,null,null," Profitability",null,null,null," Efficiency",null,null,null," Leverage"]
[]
[null,"    2> Which fiscal year has the highest Return on Assets %?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,null,null,2014]
[]
[null,"    3> Which fiscal year has the highest Return on Equity%?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,null,null,2014]
[]
[]
[]
[null," 6. Profitability Indicators (Pg. 7)"]
[]
[null,"    1> Which fiscal year, 2015 or 2014, had higher profitability based on Operating Profit Margin %"]
[null,"         and Net Profit Margin %? "]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,null,null,2014]

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[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,null,null,null,null,null,null,"Pg. 15"]
[]
[null,"Analytical Observations"]
[]
[null," 7. Efficiency Indicators (Pg.8)"]
[]
[null,"    1> Based on the Inventory Turnover Ratio, in which fiscal year, 2015 or 2014, did Lowe's"]
[null,"         more efficiently manage the Inventory asset?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[null,"    2> Based on Number of Days' Sales in Inventory, in which fiscal year, 2015 or 2014,"]
[null,"         did Lowe's have an item in inventory for the shortest amount of time?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[null,"    3> Based on the Number of Days' Purchases in Accounts Payable, in which fiscal year, 2015 or 2014,"]
[null,"         did Lowe's hold on to its cash longer before paying the cash to vendors?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[null,"    4> Which fiscal year, 2015 or 2014, had the better Cash-to-Cash Cycle?"]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[null,"    5> In which fiscal year, 2015 or 2014, did Lowe's have the better Fixed Asset Turnover Ratio?"]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[]
[]
[null," 8. Leverage Indicators (at year-end)  --  Interest Coverage (Pg. 9)"]
[]
[null,"    1> Based on the Debt %, who had the greatest claim to Lowe's assets in Fiscal 2014? "]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," Creditors",null,null,null," Shareholders"]
[]
[null,"    2> True or False?  In Fiscal 2015 more than half of Lowe's Total Assets were financed with debt?"]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," True",null," False"]
[]
[null,"    3> Based on the Times Interest Earned Ratio, were the creditors' interest payments more secure in "]
[null,"         Fiscal 2015 or Fiscal 2014?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[]
[]
[null," 9. Liquidity Indicators (Pg. 10)"]
[]
[null,"    1> Based on Working Capital and the Current Ratio did Liquidity increase or decrease from "]
[null,"         Fiscal 2014 to Fiscal 2015?"]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," Liquidity Increased",null,null,null," Liquidity Decreased"]

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[]
[null," Lowe's -- Fiscal 2015",null,null,null,null,null,null,null,null,null,null,null,null,null,"Pg. 16"]
[]
[null,"Analytical Observations"]
[]
[null," 10. Statement of Cash Flows Indicators (Pg. 11)"]
[]
[null,"    1> True or False?  By looking at the Cash Flow to Capital Expenditure Ratio it can be seen that Lowe's was"]
[null,"         able to internally fund the purchases of Fixed Assets in Fiscal 2015 and in Fiscal 2014."]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," True",null," False"]
[]
[null,"    2> In which fiscal year, 2015 or 2014, did Lowe's have more Free Cash Flow?"]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[]
[]
[null," 11. Equity Investor Indicators (Pg. 12)"]
[]
[null,"    1> True or False?  Based on the Dividend Payout % it can be seen that Lowe's paid out a larger percent"]
[null,"         of Net Income, in the form of Cash Dividends, in Fiscal 2015 than in Fiscal 2014."]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null," True",null," False"]
[]
[null,"    2> Based on the Price-Earnings Ratio, in which fiscal year, 2015 or 2014, did investors place a"]
[null,"         higher value on Lowe's earnings? "]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]
[]
[null,"    3> Based on the Dividend Yield %, in which fiscal year, 2015 or 2014, did an investor in Lowe's Common Stock"]
[null,"         earn a higher return from the cash dividends she received on her Lowe's Common Stock?"]
[]
[]
[null,null,null,null,null,"[ \"x\" only one answer ]",null,null,null,2015,null,2014]

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[]
[]
["Year and Version:",20154]