Refer to The Home Depot, Inc., 2012 Financial Statements (for the fiscal year ended February 3, 2013) in Appendix A. 1. Discuss the qualitative characteristics of comparability and understandability in relation to the financial statements presented. In your opinion, do the statements satisfy these two criteria required by the FASB for financial reporting? 2. “Notes to Consolidated Financial Statements” are published along with the financial statements of a fiscal period, offering detailed information on significant accounting policies and financial data. Review the consolidated balance sheets and excerpts from “Notes to Consolidated Financial Statements.” Are the company s Merchandise Inventories represented on the balance sheet? Describe the discussion found in Note 1 and the principle addressed by it?