Compute NOPAT

The income statement for TJX Companies follows.

THE TJX COMPANIES, INC.

Consolidated Statements of Income

Fiscal Year Ended ($ thousands) February 2, 2019

Net sales $38,972,934

Cost of sales, including buying and occupancy costs 27,831,177

Selling, general and administrative expenses 6,923,564

Pension settlement charge 36,122

Interest expense, net 8,860

Income before provision for income taxes 4,173,211

Provision for income taxes 1,113,413

Net income $3,059,798

Assume that the combined federal andstate statutory tax rate is 22%.

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.

$