Balance sheets and income statements for Tiffany & Company follow. Refer to these financial statements to answer the requirements.

Consolidated Balance Sheet	Jan. 30,2016	Jan. 31, 2015
Assets
Cash and cash equivalents	$595	$827
Accounts receivable, net	196	2,306
Merchandise inventories	1,945	1,733
Prepaid expenses	278	358
Total Current Assets	3,014	5,224
Land, Property and equipment, net	3,735	3,340
Goodwill	435	435
Other assets	514	246
Total Assets	$7,698	$9,245
Liabilities and Shareholders' Equity
Accounts payable	$1,324	$1,328
Accrued expenses	416	416
Other current liabilities	1,1611	1,048
Current portion of long-term debt	10	8
Total current liabilities	2.911	2,800
Long-term debt,net	2,795	3,123
Other liabilities	1,121	882
Shareholders' equity:
Common stock, no par value: 1,000 shares authorized; 173.5 and 190.1 shares issued and outstanding	2,539	2,338
(Accumulated deficit) Retained earnings	(1,610)	166
Accumulated other comprehensive loss	(58)	(64)
Total shareholders' equity	871	2,440
Total liabilities and shareholders' equity	$7,698	$9,245

Consolidated Income Statement	Jan. 30, 2016	Jan. 31,2015	Feb. 01, 2014
Net Sales	$14,095	$13,110	$12,166
Cost of Sales	8,826	8,010	7,363
Selling, general and administrative expenses	4,168	3,777	3,453
Total operating expenses	12,994	11,787	10,816
Earnings before interest and income taxes	1,101	1,323	1,350
Interest income	25	30	32
Interest expense	(150)	(168)	(193)
Earnings before income taxes	976	1,185	1,189
Income tax expense	376	465	455
Net earnings	$600	$720	$734

Required: Using an operating perspective: a. Compute net operating profit after tax (NOPAT) for 2016. Assume the combined federal and state statutory tax rate is 37%. b. Compute net operating assets (NOA) for 2016 and 2015.

	2016	2015
Operating Assets
Operating Liabilities
Net Operating assets

c. Compute return on net operating assets (RNOA) for 2016. d. Compute net operating profit margin (NOPM) for 2016 e. Compute net operating asset turnover (NOAT) FOR 2016 f. Compute the net nonoperating obligations NNO for 2016 and 2015.

	2016	2015
Nonoperating Liabilities
Nonoperating assets
Net nonoperating obligations

g. Compute return on equity (ROE) FOR 2016 h. Compute the nonoperating return component for ROE for 2016. PLEASE SHOW ANY AND ALL WORK!! I WANT TO BE ABLE TO TAKE NOTES STEP BY STEP AND LEARN ALL OF THE PROCESSES.