What is the value of non-operating assets that you want us to use (for Lowes it could be INVEST & ADV TO SUBS, DEPOSITS & OTH ASSET, or both)?
Use INVEST & ADV TO SUBS only since it is unclear in the case of Lowe’s that DEPOSITS & OTH ASSET is operating assets or non-operating assets based on the footnotes to their financial statements. (2) What is the “Market Value of Options Outstanding?” The assumption for that value is not given. Values for exercisable options can be pulled from either the 10-K or the PROXY, but they wouldn’t be market values, though. Input 17,268 in that cell. I pulled the numbers from the PROXY; recognize that they aren’t market values since it is beyond the scope of this class to value these options although it is easily doable using the Black-Scholes option pricing model. (3) In the case description, it says to convert all numbers to millions. I don’t understand why we need to do it because apparently all the data is in (000s). The supplemental data at the bottom of the worksheets say that the numbers are in millions, but when you try to verify the data to the balance sheet (i.e. the deferred income t
