Alternative ROE Decomposition
"Use the space below,
VF Corporation is an appareal company that owns recognizable brands like Tiberland, Vans, Reef and 7 For All ManKind.
Sheet "WRDS" presents balance sheet and income statement accounts. The Tax rate is 23.6%

(a)Compute the Traditional ROE Decomposition for the Fiscal year 2012.

(b) Compute the following Components of the Alternative ROE Decomposition for the Fiscal Year 2012:

b.1. NOPAT

b.2.Net operating profit margin

b.3.Net operating asset turnover

b.4 Operating ROA (use the multiplication of the components)

b.5. spread

b.6. net financial leverage

b.7. ROE = Operating ROA+ (Leverage X Spread)