Problem 5-2: Reading Publically Available Financial Statements
Refer to the Lowe's 2011 10-K. You should have located these statements for previous assessment problems. Use these statements and your prior knowledge of accounting, supplemented by textbooks or other references of your choosing, including the NOTES to the financial statements found in the Lowe's 2011 10-K, to answer the following questions, which all refer to the fiscal year end 2012. Indicate the source of each answer, including the page number from the Lowe's 2011 10-K.
- How many shares of common stock are authorized at the end of the current year? How many shares are issued and outstanding at the end of the current year?
- Is there more than one class of common stock? If so, what is the name of each class of common stock.
- Is there any preferred stock? If so, what is the dividend rate on the preferred stock, as a percentage of the par value of the preferred stock?
- Did the company pay dividends on the common stock during the most recent reporting year? If so, what was the total amount of dividends paid and how much were they per share?
- Does the company have any treasury stock? If so how much?
- Has the company issued a stock dividend or a stock split over the past three reporting years? If so, what percentage and in what year or years?
- Does the company's common stock have par value? If it does, what is the par value?
- Did the common buy back a significant amount of its shares in the current year? You can see this in the Statement of Stockholders' Equity as a reduction in shares.