Balance sheets and income statements for Costco Wholesale Corporation follow. \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Consolidated Statements of Earnings } \\ \hline \multicolumn{1}{|c|}{ For Fiscal Years Ended (\$ millions) } & September 2, 2018 \\ \hline Total revenue & $142,791 \\ \hline Operating expenses & 124,367 \\ \hline Merchandise costs & 13,876 \\ \hline Selling, general and administrative & 1,283 \\ \hline Preopening expenses & 3,265 \\ \hline Operating Income & 159 \\ \hline Other (income) expense & (121) \\ \hline \multicolumn{1}{|c|}{ Interest expense } & 3,227 \\ \hline Interest income and other, net & 1,263 \\ \hline Income before income taxes & 1,964 \\ \hline Provision for income taxes & (45) \\ \hline Net income including noncontrolling interests & $1,919 \\ \hline Net income attributable to noncontrolling interests & \\ \hline Net income attributable to Costco & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{CostcoWholesaleCorporationConsolidatedBalanceSheets} \\ \hline (\$ millions, except par value and share data) & September 2, 2018 & September 3, 2017 \\ \hline \multicolumn{3}{|l|}{ Current assets } \\ \hline Cash and cash equivalents & $6,055 & $5,761 \\ \hline Short-term investments & 2,419 & 1,233 \\ \hline Receivables, net & 1,669 & 1,432 \\ \hline Merchandise inventories & 11,040 & 11,049 \\ \hline Other current assets & 1,536 & 272 \\ \hline Total current assets & 22,719 & 19,747 \\ \hline Net property and equipment & 20,896 & 18,161 \\ \hline Other assets & 860 & 869 \\ \hline Total assets & $44,475 & $38,777 \\ \hline \multicolumn{3}{|l|}{ Current liabilities } \\ \hline Accounts payable & $11,237 & $9,608 \\ \hline Accrued salaries and benefits & 2,994 & 3,918 \\ \hline Accrued member rewards & 1,057 & 2,176 \\ \hline Deferred membership fees & 2,839 & 1,498 \\ \hline Other current liabilities & 3,014 & 2,725 \\ \hline Total current liabilities & 21,141 & 19,925 \\ \hline Long-term debt & 7,702 & 7,788 \\ \hline Other liabilities & 2,529 & 1,200 \\ \hline Total liabilities & 31,372 & 28,913 \\ \hline \multicolumn{3}{|l|}{ Equity } \\ \hline Preferred stock, $0.01 par value: & 0 & 0 \\ \hline Common stock, $0.01 par value: & 4 & 4 \\ \hline Additional paid-in-capital & 6,107 & 4,585 \\ \hline Accumulated other comprehensive loss & (1,199) & (1,014) \\ \hline \end{tabular} (a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%. (b) Compute net operating assets (NOA) for 2018 and 2017. (c) Compute Costco's RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2018. (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOA = NNO + Total equity. (e) Compute return on equity (ROE) for 2018. (f) Infer the nonoperating return component of ROE for 2018