Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 $40,683 $38,573
Nonoperating assets 2,266 1,773
Total assets 42,949 40,346
Operating liabilities 15,043 13,552
Nonoperating liabilities 21,275 17,157
Total liabilities 36,318 30,709
Total stockholders' equity 6,631 9,637
Sales 89,234
Net operating profit before tax (NOPBT) 12,124
Nonoperting expense before tax 803
Tax expense 4,001
Net income 7,320

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.

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

Step: 3

blur-text-image

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

Modern Auditing

Authors: Graham Cosserat

2nd Edition

0470863226, 978-0470863220

More Books

Students also viewed these Accounting questions

Question

Whatif anythingwould you say to your other students?

Answered: 1 week ago

Question

I wasnt sure how to talk about this situation. It was too personal.

Answered: 1 week ago