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Expense items that had significant percentage changes

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Reference no: EM131769125

This time the question is on Lowes company. Please let me know if you have any questions.

Respond to one or more question(s) from each of the three categories below.

Category: Revenue and Net Income

1. What were the company's revenues for the most recent fiscal year? Comment on the trend in total revenue. Is it increasing or decreasing during the past two years?

2. Compare net income over the past two years. How much and by what percentage did Net Income change?

3. Comment on individual revenue or expense items that had significant percentage changes (changes as a percentage of total revenue or total expenses) over the most current three years.

Category: Irregular Items

1. Identify and describe any irregular items reported on the Income Statement, such as discontinued operation or extraordinary items,?

2. Did your company change any accounting principles that would have required a retrospective adjustment to the financial statements?

3. Were there any prior-period adjustments (PPA)? If so, what caused the PPA's?

Category: Analysis

1. Prepare a horizontal analysis of your company's Income Statement over the past two years.

2. Calculate the following ratios for the most recent two years and comment on the results of your ratio analysis. How do the results for your company compare to industry averages?

a. Accounts receivable turnover

b. Profit margin

c. Return on assets

d. Times interest earned

Reference no: EM131769125

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