Reference no: EM132696511
Identify and Compute Net Operating AssetsLOWE'S COMPANIES INC.Consolidated Balance Sheet
Following is the balance sheet for Lowe's Companies Inc.
$ millions, except par value Feb. 1, 2019
Current assets
Cash and cash equivalents $1,124
Short-term investments 480
Merchandise inventory-net 27,634
Other current assets 2,064
Total current assets 31,302
Property, less accumulated depreciation 40,550
Long-term investments 563
Deferred income taxes-net 647
Goodwill 667
Other assets 2,189
Total assets $75,918
Current liabilities
Short-term borrowings $1,588
Current maturities of long-term debt 2,442
Accounts payable 18,214
Accrued compensation and employee benefits 1,456
Deferred revenue 2,858
Other current liabilities 5,335
Total current liabilities 31,893
Long-term debt, excluding current maturities 31,660
Deferred revenue-extended protection plans 1,819
Other liabilities 2,528
Total liabilities 67,900
Shareholders' equity
Preferred stock-$5 par value, none issued -
Common stock-$0.50 par value 884
Capital in excess of par value -
Retained earnings 7,594
Accumulated other comprehensive loss 460
Total shareholders' equity 8,936
Total liabilities and shareholders' equity $75,918
Problem 1: Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that long-term investments are nonoperating.