Lowe's is a leading retailer in the home improvement field. Complete the component percentage analysis on the company's income statement that follows. (Enter your answer as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34).)
LOWE'S COMPANIES, INC.
Consolidated Statements of Earnings
(in millions, except per share and percentage data)
Fiscal Years Ended on
February 3,
% Sales
January 28,
January 29,
2012
2011
2010
Net sales
$ 48,237
100.00 %
$ 48,296
100.00 %
$ 46,928
100.00 %
Cost of sales
31,730
65.79
31,572
65.38
30,745
65.51
Gross margin
16,507
34.21
16,724
34.62
16,183
34.49
Expenses:
Selling, general, and administrative
11,079
22.96
10,523
21.78
9,742
20.76
Depreciation
1,558
1,373
1,166
Interest-net
293
214
0.43
167
Total expenses
12,930
22.96
12,110
22.21
11,075
20.76
Pre-tax earnings
3,577
11.25
4,614
12.41
5,108
13.73
Income tax provision
1,312
2.73
1,706
1,903
4.07
Net earnings
$ 2,265
8.52 %
$ 2,908
12.41 %
$ 3,205
9.66 %