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Compute and Interpret Ratios Selected balance sheet and income statement information from Illinois Tool Works follows. 2018 $ millions 2019 2017 Net operating profit after

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Compute and Interpret Ratios Selected balance sheet and income statement information from Illinois Tool Works follows. 2018 $ millions 2019 2017 Net operating profit after tax (NOPAT) $2,688 $2,792 Net income 2,597 2,640 Total assets 14,164 13,978 $15,773 Equity 2,844 3,059 3,059 Net operating profit after tax (NOA) 8,337 8,894 9,484 Treasury stock 19,551 18,071 16,029 a. Compute profitability measures: RNOA, ROA and ROE for 2019 and 2018 using the numbers as reported by the company. Note: Round answers to one decimal place (ex: 0.2345 = 23.5%). Metric 2019 2018 RNOA 32.2% X 31.4% X ROA 18.3 % x 18.9 % X ROE 91.3 % x 86.3% b. Adjust equity and total assets for the amount of treasury stock. $ millions 2019 2018 2017 Assets, restated $ Ox $ 0X $ 0 X Equity, restated 0X $ 0 x $ 0 X

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