2,291 Compute Net Operating Assets Selected balance sheet and income statement information for Home Depot follows. $ millions Jan. 31, 2016 Feb. 01, 2015 Operating assets $40,783 $38.673 Nonoperating assets 1,798 Total assets 43,074 40,471 Operating liabilities 15,068 13,577 Nonoperating liabilities 21,270 17,152 Total liabilities 36,338 30,729 Sales 89,464 Net operating profit before tax (NOPBT) 12,224 Nonoperting expense before tax Tax expense 4.523 Net income 6,873 828 Compute net operating assets for the years ended January 31, 2016 and February 1, 2015. 2016 NOA $ 2015 NOA $ HAL Compute, Disaggregate, and Interpret RNOA of Competitors Halliburton and Schlumberger compete in the oil field services sector. Refer to the following 2018 financial data for the two companies to answer the requirements. $ millions SLB Total revenue $25,195 $34,456 Pretax net nonoperating expense 686 447 Net income 1,491 1,959 Average operating assets 21,025 61,052 Average operating liabilities 6,182 17,324 Marginal tax rate 2296 1996 Return on equity 18.56% 5.8696 a. Compute return on net operating assets (RNOA) for each company. b. Disaggregate RNOA into net operating profit margin (NOPM) and net operating asset turnover (NOAT) for each company. Do not round until your final answer. Round answers to two decimal places (percentage example: 0.12345 = 12.35%). HAL RNOA 096 096 NOPM 0 % 096 NOAT SLB 0 0 Compute Net Operating Profit after Tax Selected balance sheet and income statement information for Home Depot follows. $ millions Jan. 31, 2016 Feb. 01, 2015 Operating assets $40,683 $38,573 Nonoperating assets 2.266 1,773 Total assets 42,949 40,346 Operating liabilities 15,043 13,552 Nonoperating liabilities 21,275 17,157 Total liabilities 36,318 30,709 Sales Net operating profit before tax (NOPBT) 12,124 Nonoperting expense before tax 803 Tax expense 4,001 Net income 7,320 89,234 Assume a statutory tax rate of 37%. Round answers to the nearest whole number. a. Compute NOPAT using the formula: NOPAT = Net income + NNE $ b. Compute NOPAT using the formula: NOPAT = NOPBT - Tax on operating profit $