Locating Information on Published 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.
Does Lowe's use the direct or indirect method to report cash flows from operating activities? How can you be sure about this? Include in your answer the first three items in the Cash from Operations section.
What is the major use of cash in the Cash from Investing Activities section?
What is the major source of cash in the Cash from Investing Activities section?
Are there any sources of cash in the Cash from Financing Activities section? What are they?
Has the company paid cash dividends during the last three years? How do you know?
What was free cash flow for the fiscal year ended in 2011? (You may need to do some Internet research to find a definition of free cash flow).