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

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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.

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.