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Compute Net Operating Profit after Tax Refer to the balance sheet information below for Home Depot. $ millions Operating assets Feb. 3, 2019 Jan. 28,
Compute Net Operating Profit after Tax Refer to the balance sheet information below for Home Depot. $ millions Operating assets Feb. 3, 2019 Jan. 28, 2018 $27,446 $26,607 Nonoperating assets Total assets Operating liabilities Nonoperating liabilities 1,156 2,337 $28,602 $28,944 $10,841 $10,431 18,981 17,568 Total liabilities $29,822 $27,999 Net sales $70,332 Operating expense before tax 60,237 Net operating profit before tax (NOPBT) 10,095 Other expense 633 Income before tax 9,462 Tax expense 2,233 Net income $7,229 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 0
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