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Can someone please help me figure out the NOPAT, I would appreciate it. The tax has a footnote of 39.2% so this has to be
Can someone please help me figure out the NOPAT, I would appreciate it. The tax has a footnote of 39.2% so this has to be calculated instead of the listed 38%.
Compute NOPAT Using Tax Rates from Tax Footnote The income statement for The TJX Companies, Inc., follows. THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) Net sales Cost of sales, including buying and occupancy costs Selling, general and administrative expenses Provision (credit) for computer intrusion related costs Interest expense (revenue), net February 2, 2013 $25,878,372 18,521,400 4,250,446 29,175 Income from continuing operations before provision for income taxes 3,077,351 1,170,664 Provision for income taxes Net income $ 1,906,687 U.S. federal statutory income tax rate Effective state income tax rate Impact of foreign operation 35.0% 4.2% -0.9% -0.3% All other Worldwide effective income tax rate 38.0% Compute TJX's NOPAT for 2013 using its income tax footnote disclosure. (The Federal and State tax rate for 2013 as reported by TJX's tax footnote is: 39.2%). Round to the nearest whole numberStep by Step Solution
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