Balance sheets and income statements for Nordstrom, Inc. follow. Refer to these financial statements to answer the requirements.NORDSTROM, INC.

Consolidated Statements of EarningsFor Fiscal Years Ended ($ millions)200920082007Sales$ 8,272$ 8,828$ 8,561Credit card revenues301252105Total revenues8,5739,0808,666Cost of sales and related buying and occupancy costs(5,417)(5,526)(5,354)Selling, general and administrative expenses

Retail(2,103)(2,130)(2,071)Credit(274)(177)(92)Earnings before interest and income taxes7791,2471,149Net interest expense(131)(74)(43)Earnings before income taxes6481,1731,106Income tax expense(247)(458)(428)Net earnings$ 401$ 715$ 678

NORDSTROM, INC.

Consolidated Balance Sheets($ millions)January 31, 2009February 2, 2008Assets

Current Assets

Cash and cash equivalents$ 72$ 358Accounts receivable, net1,9421,788Merchandise inventories900956Current deferred tax assets, net210181Prepaid expenses and other9378Total current assets3,2173,361Land, buildings and equipment, net2,2211,983Goodwill5353Other assets170203Total assets$ 5,661$ 5,600Liabilities and Shareholders' Equity

Current liabilities

Accounts payable$ 563$ 556Accrued salaries, wages and related benefits214268Other current liabilities525550Current portion of long-term debt299261Total current liabilities1,6011,635Long-term debt, net2,2142,236Deferred property incentives, net435369Other liabilities201245Shareholders' equity

Common stock, no par value997936Retained earnings223201Accumulated other comprehensive income (loss)(10)(22)Total shareholders' equity1,2101,115Total liabilities and shareholders' equity$ 5,661$ 5,600

(a) Compute net operating profit after tax (NOPAT) for 2009. Assume that the combined federal and statutory rate is: 37.0%. (Round your answer to the nearest whole number.)

2009 NOPAT =

(b) Compute net operating assets (NOA) for 2009 and 2008.

2009 NOA =

2008 NOA =

(c) Compute RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2009. Do not use NOPM x NOAT to calculate RNOA. (Do not round until your final answers. Round to two decimal places.)

2009 RNOA =

2009 NOPM =

2009 NOAT =

(d) Compute net nonoperating obligations (NNO) for 2009 and 2008.

2009 NNO =

2008 NNO =

(e) Compute return on equity (ROE) for 2009. (Round your answers to two decimal places. Do not round until your final answer.)

2009 ROE =

(f) Infer the nonoperating return component of ROE for 2009. (Use answers from above to calculate. Round your answer to two decimal places.)

2009 nonoperating return =