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1. For each year, 2014 through 2017, calculate the following ratios: 1) Debt to assets, 2) Return on assets and 3) Return on equity.
2. List the company's interest expense for each year from 2014 through 2017.
3. Discuss the effects that Home Depot's strategy of increasing its financing with debt had on the company from 2014 through 2017.

Interest rates in the United States were at historic lows for much of the period from 2013 through 2019. The economy was slowly recovering from the recession of 2008 and 2009, and the Federal Reserve kept interest rates low to encourage this recovery. Because of these low interest rates, many companies increased their long-term financing from debt, while lowering their financing with owners' equity. Home Depot, Inc., the building supplies company, was one of these firms. Use Home Depot's 2017 Form 10-K to obtain the data for 2016 and 2017, and its 2015 Form 10-K to obtain the data for 2014 and 2015. (Note: Home Depot ends its fiscal year in late January or early February, so for the purposes of this assignment, the fiscal year ending on January 28, 2018, is considered the company's 2017 fiscal year. All other fiscal years are treated the same, so 2015 will be the year ended January 31, 2016.) To obtain the 10-Ks, you can either use the EDGAR system, following the instructions in Appendix A, or they can be found on the company's website. Required Interest rates in the United States were at historic lows for much of the period from 2013 through 2019. The economy was slowly recovering from the recession of 2008 and 2009, and the Federal Reserve kept interest rates low to encourage this recovery. Because of these low interest rates, many companies increased their long-term financing from debt, while lowering their financing with owners' equity. Home Depot, Inc., the building supplies company, was one of these firms. Use Home Depot's 2017 Form 10-K to obtain the data for 2016 and 2017, and its 2015 Form 10-K to obtain the data for 2014 and 2015. (Note: Home Depot ends its fiscal year in late January or early February, so for the purposes of this assignment, the fiscal year ending on January 28, 2018, is considered the company's 2017 fiscal year. All other fiscal years are treated the same, so 2015 will be the year ended January 31, 2016.) To obtain the 10-Ks, you can either use the EDGAR system, following the instructions in Appendix A, or they can be found on the company's website. Required

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