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

Exercise 18

Comparing Financial Information
Refer to the financial statements of The Home Depot in Appendix A and Lowe's in Appendix B at the end of this book, or download the annual reports from the Cases section of the texts Web site at www.mhhe.com/phillips4e.
Required:
1. Which of the two basic reporting approaches for the cash flows from operating activities did Lowe's use Is this the same as what The Home Depot used
2. What amount of cash did Lowe's receive from issuing long-term debt during the year ended January 28, 2011
3. In the 2010-11 fiscal year, Lowe's generated $3,852 million from operating activities. Where did Lowe's spend this money List the two largest cash outflows reported in the investing or financing activities sections. Do Lowe's uses differ significantly from The Home Depot's