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

HINT: For Sales use "Total revenues" for your computations, when applicable.

(a) Compute net operating profit after tax (NOPAT) for 2016. Assume that the combined federal and state statutory tax rate is 37%.

Round to the nearest whole number.

2016 NOPAT = ???? (b) Compute net operating assets (NOA) for 2016 and 2015. 2016 NOA = ???? 2015 NOA = ????? (c) Compute RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2016.

Do not round until your final answer. Round answer to two decimal places. 2016 RNOA =???? 2016 NOPM = ??? 2016 NOAT = ???? (d) Compute net nonoperating obligations (NNO) for 2016 and 2015. 2016 NNO = ???? 2015 NNO = ???? (e) Compute return on equity (ROE) for 2016.

Round answer to two decimal places. 2016 ROE = ???? (f) Infer the nonoperating return component of ROE for 2016.

Use above answers to calculate. Round answer to two decimal places. 2016 nonoperating return =????

Analysis and Interpretation of Profitability Balance sheets and income statements for Nordstrom, Inc., follow. Refer to these financial statements to answer the requirements. Nordstrom, Inc. Consolidated Statements of Earnings For Fiscal Years Ended (5 millions) 2016 2015 2014 Net Sales $14,095 $13,110 $12,166 Credit card revenues 342 396 374 Total revenues 14,437 13,506 12,540 Cost of sales and related buying and occupancy costs (9,168) (8,406) (7.737) Selling general and administrative expenses (4168) (3.777) (3.453) Earnings before interest and income taxes 1,101 1,323 1,350 Interest expense, net (125) (138) (161) Earnings before income taxes 976 1,185 1,189 Income tax expense 376) (465) (455) Net earnings $600 $720 $734 246 Nordstrom, Inc. Consolidated Balance Sheets in millions Jan 30, 2016 Jan. 31, 2015 Assets Current assets Cash and cash equivalents $595 $827 Accounts receivable, net 196 2,306 Merchandise inventories 1,945 1,733 Current deferred tax assets, net 256 Prepaid expenses and other 278 102 Total current assets 3,014 5,224 Land, buildings and equipment, net 3,735 3,340 Goodwill 435 435 Other assets Total assets $7,698 $9,245 Liabilities and equity Current liabilities Accounts payable $1324 $1,328 Accrued salaries, wages and related benefits 416 416 Other current liabilities 1,161 1,048 Current portion of long-term debt 10 Total current liabilities 2,911 2,800 Long-term debt, net 2,795 3,123 Deferred income taxes and other liabilities 540 510 Other liabilities 581 372 Shareholders' equity Common stock, no par value: 1,000 shares authorized: 173.5 and 190.1 shares issued and outstanding 25292338 2,539 Retained earnings (1,610) Accumulated other comprehensive loss (58) Total shareholders' equity 871 Total liabilities and shareholders' equity $7,698 $9.245 166 (64) Analysis and Interpretation of Profitability Balance sheets and income statements for Nordstrom, Inc., follow. Refer to these financial statements to answer the requirements. Nordstrom, Inc. Consolidated Statements of Earnings For Fiscal Years Ended (5 millions) 2016 2015 2014 Net Sales $14,095 $13,110 $12,166 Credit card revenues 342 396 374 Total revenues 14,437 13,506 12,540 Cost of sales and related buying and occupancy costs (9,168) (8,406) (7.737) Selling general and administrative expenses (4168) (3.777) (3.453) Earnings before interest and income taxes 1,101 1,323 1,350 Interest expense, net (125) (138) (161) Earnings before income taxes 976 1,185 1,189 Income tax expense 376) (465) (455) Net earnings $600 $720 $734 246 Nordstrom, Inc. Consolidated Balance Sheets in millions Jan 30, 2016 Jan. 31, 2015 Assets Current assets Cash and cash equivalents $595 $827 Accounts receivable, net 196 2,306 Merchandise inventories 1,945 1,733 Current deferred tax assets, net 256 Prepaid expenses and other 278 102 Total current assets 3,014 5,224 Land, buildings and equipment, net 3,735 3,340 Goodwill 435 435 Other assets Total assets $7,698 $9,245 Liabilities and equity Current liabilities Accounts payable $1324 $1,328 Accrued salaries, wages and related benefits 416 416 Other current liabilities 1,161 1,048 Current portion of long-term debt 10 Total current liabilities 2,911 2,800 Long-term debt, net 2,795 3,123 Deferred income taxes and other liabilities 540 510 Other liabilities 581 372 Shareholders' equity Common stock, no par value: 1,000 shares authorized: 173.5 and 190.1 shares issued and outstanding 25292338 2,539 Retained earnings (1,610) Accumulated other comprehensive loss (58) Total shareholders' equity 871 Total liabilities and shareholders' equity $7,698 $9.245 166 (64)