Locating Information on Published Financial Statements
For this problem, you will need to obtain Form 10-K for Lowe's Companies for end of fiscal year 2012. Note that the Lowe's 2011 Form 10-K is for the year ending 2/3/2012. Form 10-K is referred to as 2011 because SEC and tax forms refer to the fiscal year beginning. Throughout the assignments, all references will be to fiscal year ending. The fiscal year of Lowe's is based upon a 52/53-week year so that the company's fiscal year will always end on the same Friday each year.
You can obtain Form 10-K for Lowe's directly from the EDGAR database of the Securities and Exchange Commission. Access the Securities and Exchange Commission Web site by clicking the link in the assessment resources. Then click in the Search EDGAR for Company Filings box about halfway down the page on the right side and type "Lowes Companies" in the Company Name box. You can leave the rest of the form blank. Select the 10-K form from the list of search results. You can also get this information from Lowe's Web site by clicking on Investor Relations at the bottom on the page.
Using the fiscal year ending 2012 financial statements and your prior knowledge of accounting, supplemented by textbooks or other references of your choosing, answer the following questions:
What were the company's assets, liabilities, and owners' equity amounts at the end of fiscal year 2012?
If the company were liquidated at the end of the fiscal year 2012, are the shareholders guaranteed to receive the total shown in your answer to number 1 above for owners' equity? Clearly explain why or why not.
What were the company's noncurrent liabilities for the fiscal year ending 2012?
What was the company's current ratio for the fiscal year ending 2012?
For the fiscal year ending 2012, did the company have a cash inflow or outflow from investing activities? How much?
For the fiscal year ending 2012, how much was the company's cash flow from operations? Why is this not the same amount as the company's operating income? Explain in general terms.