Chapter 3 The following Tables present the summary of the balance sheet and income statement items of GXN Company. All values are in millions Items 2019 2020 Cash 225.200260,800 Account receivables 7.500 7,800 Inventory 11,300 11,700 Prepaid Insurance 5.320 4.800 Net Property and Equipment 37,500 37,500 Investment in AB Co stocks 12.300 9,700 Total Assets 299,120 332.300 Account payables 5.600 5.900 Wages and salaries payable 3.240 2.900 Bond payable (5 yrs.) 24,650 24,650 Notes payable (3 yrs.) 5,350 5350 Equity Capital 170,000 170,000 Total liability & Equity 299,120 332,300 Tenis 2019 20.30 | Raven 150,000 158,300 Cost of goods sold 56,000 58,500 Salaries & benefits 25,500 26,900 Rent and overheads 11.000 10.000 Deprecation 16,000 15.000 Interest 1.500 1.500 Taxes tate 40% 40% Based on the above information answer questions (a) - (c) (a) Compute the NOPAT of the company in 2020 (b) Calculate the RNOA, NOAT and NOPM ratios of the company in 2020. Assume that the RNOA, NOAT and NOPM ratios for 2019 are 40%, 2.5x and 14% respectively. (c) Determine the ROE of the company using the three- stage DuPont analysis. What is your conclusion if the industry average ROE is 15%