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Compute Net Operating Profit after Tax Selected balance sheet and income statement information for Home Depot follows. $ millions Jan. 31, 2016 Feb. 01, 2015

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Compute Net Operating Profit after Tax Selected balance sheet and income statement information for Home Depot follows. $ 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 Sales 89,599 Net operating profit before tax (NOPBT) 12,299 Nonoperting expense before tax 858 Tax expense 4,428 Net income 7,013 Assume a statutory tax rate of 37%. Round answers to the nearest whole number. a. Compute NOPAT using the formula: NOPAT = Net income + NNE $ b. Compute NOPAT using the formula: NOPAT = NOPBT - Tax on operating profit $

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