Compute Net Operating Profit after Tax

Refer to the balance sheet information below for Home Depot.

$ millions	Feb. 3, 2019	Jan. 28, 2018
Operating assets	$31,669	$30,701
Nonoperating assets	1,334	2,696
Total assets	$33,003	$33,397
Operating liabilities	$12,509	$12,035
Nonoperating liabilities	21,902	20,271
Total liabilities	$34,411	$32,306
Net sales	$81,152
Operating expense before tax	69,505
Net operating profit before tax (NOPBT)	11,647
Other expense	731
Income before tax	10,916
Tax expense	2,576
Net income	$8,340

Assume a statutory tax rate of 22%.

a. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = Net income + NNE

	Net income	NNE	NOPAT

b. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = NOPBT Tax on operating profit

	NOPBT	Tax on operating profit	NOPAT