Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Compute net operating profit after tax for the year ended January 31, 2016. Assume a statutory tax rate of 37%. Round answer to the nearest

Compute net operating profit after tax for the year ended January 31, 2016. Assume a statutory tax rate of 37%.

Round answer to the nearest whole number.

image text in transcribed
$ millions Jan. 31, 2016 Feb. 01, 2015 Operating assets $40,858 $38,748 Nonoperating assets 2,321 1,828 Total assets 43,179 40,576 Operating liabilities 15,093 13,602 Nonoperating liabilities 21,320 17,202 Total liabilities 36,413 30,804 Total stockholders' equity 6,766 9,772 Sales 89,599 Net operating profit before tax (NOPBT) 12,299 Nonoperting expense before tax 858 Tax expense 4,428 Net income 7,013

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting For Dummies

Authors: Mark P Holtzman, Karen Schoenebeck

1st Edition

1118116429, 978-1118116425

More Books

Students also viewed these Accounting questions

Question

Describe the three major subdivisions of the Malleus Maleficarum.

Answered: 1 week ago

Question

1. Avoid conflicts in the relationship

Answered: 1 week ago

Question

1. What will happen in the future

Answered: 1 week ago