Selected balance sheet and income statement information for Target Corporation, a department store retailer, follows.

a. Compute its 2008 return on net operating assets (RNOA).

b. Disaggregate RNOA into net operating profit margin (NOPM) and net operating asset tumover \((\) NOAT). Confirm that \(\mathrm{RNOA}=\mathrm{NOPM} \times\) NOAT.

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2008 Net Company ($ millions) Target Corp........ Ticker TGT 2008 Revenues 2008 Operating NOPAT Assets 2007 Net Operating Assets $63,367 $3,244 $32,397 $25.670