Question
dentify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of EarningsTwelve Months Ended (In millions) Feb.
dentify and Compute NOPAT
Following is the income statement for Lowe's Companies Inc.
LOWE'S COMPANIES INC.
Consolidated Statement of EarningsTwelve Months Ended (In millions)
Feb. 1, 2019
Net sales $57,047
Cost of sales 38,721
Gross margin 18,326
Expenses
Selling, general and administrative 13,930
Depreciation and amortization 1,182
Operating income 3,214
Interest expense, net 499
Pretax earnings 2,715
Income tax provision 864
Net earnings $1,851
Compute its net operating profit after tax (NOPAT) for the 12 months ended ended February 1, 2019, assuming a 22% total statutory tax rate.
Note:Round your answer to the nearest whole dollar.
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