Home Depot, Inc Financial Statements
Cari Tenan
ACC/497
October 1, 2012
Teresa Jenkinson

Home Depot, Inc Financial Statements
In 1978 Home Depot, Incorporated was incorporated. Home Depot, Incorporated is the world’s largest home improvement retailer selling an assortment of building materials, home improvement, lawn and garden products plus numerous services. In 2008, Home Depot, Incorporated had 2,233 stores throughout the United States, Puerto Rico, the United States Virgin Islands, Guam, Canada, China, and Mexico plus a website on the Internet. The fiscal year for 2008 ended on February 1, 2009, and the financial statements give an individual an idea of how the corporation did during that fiscal year compared to the previous fiscal year (Phillips, Libby, Libby, 2011).
Looking at the three major financial statements the consolidated statement of earnings or the income statement, balance sheet, and the cash flow statement, helps an individual to understand how well or not a company did during the year. An individual can even compare the financial statements with previous years to see where improvements may be needed. The consolidated statement of earnings shows the profitability of a company. The balance sheet shows the financial position of a company. The cash flow statement shows where the cash came from and what the cash was used for during a period.
The consolidated statement of earnings for Home Depot Incorporated during the fiscal year 2008 shows revenue declining compared to the fiscal year 2007 because of the economic situation and a recession in the United States. Net earnings for fiscal year 2008 were $2.3 billion with diluted earnings per share of $1.34 compared to fiscal year 2007’s net earnings of $4.4 billion and diluted earnings per share of $2.37. Fiscal year 2008 is almost half the earnings in fiscal year 2007 because of tough