4-24. Identify and Compute Net Operating Assets Following is the balance sheet for Lowe's Companies Inc. Identify and compute its 2016 net operating assets (NOA). Jan. 29, 2016 Jan. 30, 2015 RE .. $ 405 307 9,458 391 10,561 19,577 222 241 665 $31,266 $ 466 125 8,911 349 9,851 20,034 354 133 1,349 $31,721 LOWE'S COMPANIES INC. Consolidated Balance Sheets $ millions, except par value Current assets Cash and cash equivalents. Short-term investments Merchandise inventory-net. Other current assets Total current assets Property, less accumulated depreciation.. Long-term investments..... Deferred income taxes-net Other assets.... Total assets.. Current liabilities Short-term borrowings. Current maturities of long-term debt Accounts payable..... Accrued compensation and employee benefits Deferred revenue Other current liabilities Total current liabilities .. Long-term debt, excluding current maturities Deferred revenue-extended protection plans Other liabilities.. Total liabilities... Shareholders' equity Preferred stock-$5 par value, none issued ....... Common stock-$0.50 par value; shares issued and outstanding 910 at January 29, 2016 and 960 at January 30, 2015, respectively Capital in excess of par value. Retained earnings... Accumulated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' equity 43 1,061 5,633 820 1,078 1,857 10,492 11,545 729 846 23,612 $ 552 5,124 773 979 1.920 9,348 10,806 730 869 21,753 . 455 480 7,593 (394) 7,654 $31,266 9,591 (103) 9,968 $31.721