Compute NOPAT

The income statement for The TJX Companies, Inc., follows.

THE TJX COMPANIES, INC. Consolidated Statements of Income
Fiscal Year Ended ($ thousands)	January 26, 2008
Net sales	$18,647,126
Cost of sales, including buying and occupancy costs	14,082,448
Selling, general and administrative expenses	3,126,565
Provision (credit) for computer intrusion related costs	197,022
Interest expense (revenue), net	(1,598)
Income from continuing operations before provision for income taxes	1,242,689
Provision for income taxes	470,939
Income from continuing operations	771,750
Gain from discontinued operations, net of income taxes	-
Net income	$ 771,750

Assume that the combined federal and state statutory tax rate is 39.1%.

a. Compute NOPAT using the formula: NOPAT = Net income + NNE.

Round to the nearest whole number.

$

b. Compute NOPAT using the formula: NOPAT = NOPBT Tax on operating profit.

Round to the nearest whole number.

$