Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 13

Finding Financial Information
Refer to the financial statements of The Home Depot in Appendix A at the end of this book, or download the annual report from the Cases section of the text's Web site at www.mhhe.com/philhps4e.
Required:
1. How much did The Home Depot's sales revenue increase or decrease in the year ended January 30, 2011
a. Decreased $5,112 (million)
b. Decreased $401 (million)
c. Increased $1,821 (million)
d. Increased $677 (million)
2. What is the largest expense on the income statement, and how much did it change from the previous year
a. Cost of Sales, which decreased $3,534 (million)
b. Cost of Sales, which increased $929 (million)
c. Selling, General and Administrative Expenses, which decreased $53 (million)
d. Selling, General and Administrative Expenses, which increased $1,944 (million)
3. Which of the following was The Home Depot's net profit margin in the year ended January 30, 2011
a. 34.3%
b. 7.8%
c. 4.9%
d. 4.0%