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ACCT 221 Principles of Accounting II - Home Depot SEC 10-K Report
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The report was completed for the Principles of Accounting II course through the University of Maryland Global Campus. The report analyzes the Income, balance sheet, liquidity ratios, solvency ratios, cash flows, equity, audit report, and conclusion covering 2020 to 2022. I received an A.

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  • June 10, 2024
  • 14
  • 2022/2023
  • Essay
  • Unknown
  • A

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The Home Depot, Inc. SEC 10-K Report




<Name>

University of Maryland Global Campus (UMGC)

ACCT 221 Principles of Accounting II

Professor: <Name>

<Date>

, The Home Depot, Inc. SEC 10-K Report 2


Introduction

The Home Depot was a dream that two friends thought about at a Los Angeles coffee

shop in 1978 (The Home Depot, 2023, “Home Is Where Our Story Begins,” para. 2). The Home

Depot was established by Bernie Marcus and Arthur Blank on June 29, 1978 (The Home Depot,

2023, “About Us,” para. 1). On June 22, 1979, they established the first two stores in Atlanta,

Georgia, with the assistance of investment banker Ken Langone and merchandising specialist Pat

Farrah (The Home Depot, 2023, “Home Is Where Our Story Begins,” para. 3).

The Home Depot has become the largest personal or business home improvement retailer

on the planet, offering a wide range of materials, products, services, and tools. The number of

operated stores is 2,322 at the end of 2022, throughout all the above areas listed (The Home

Depot, 2023, “Form 10-K 2022,” p. 1). They have outlets in Mexico, Canada, and the US, as

well as staff members in China, India, Italy, Poland, Turkey, and Vietnam. The Home Depot

employs over 470,00 personnel with about 46,500 salaried personnel, and the rest are hourly

based (The Home Depot, 2023, “Form 10-K 2022,” p. 6). The competition for them is several

other companies that sell building materials, lumber yards, electrical stores, and plumbing stores

to name a few (The Home Depot, 2023, “Form 10-K 2022,” p. 3).

In this report, we will analyze The Home Depot’s financial statements from the Securities

and Exchange Commission, which cover the years 2020 to 2022 and ratios during these years.

Their fiscal year for the annual statements is from 31 January to 30 January each year (The

Home Depot, 2023, “Form 10-K 2022,” p. 1).



Statement of Income

The Income Statement will show revenues made, expenses, taxes, other gains, and losses,

then the Net Income. The revenues could be from selling products or services depending on the

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