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Following are Target's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its year ended February 2, 2019 ($ millions).
Following are Target's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its year ended February 2, 2019 ($ millions). Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Financial information Sales Net operating profit after tax (NOPAT) Net operating assets (NOA) $75,356 3,264 21,016 Use the parsimonious method to forecast Target's sales, NOPAT, and NOA for years ended February 2020 through 2023 using the following assumptions. Note: Complete the entire question in Excel (template provided above). Using Excel, format each answer to two decimal places. Use Increase Decimal or Decrease Decimal to adjust decimal places. Do not round answers. Then enter the answers into the provided spaces below with two decimal places_. Note: When completing the question in Excel, refer directly to the cells containing these assumptions, i.e., don't type the NOPM number when making a calculation, refer to the cell. Note: Use negative signs with answers, when appropriate. $ millions 2019 Actual Sales 75,356.00 NOPAT 3,264.00 NOA 21,016.00 Assumptions Sales growth per year Net operating profit margin (NOPM) Net operating asset turnover (NOAT), based on NOA at February 2, 2019 2020 Est. 78069 3380.48 x -21746 x 2021 Est. 80879 -3478 x -22529 x 3.60% 4.33% 3.59 2022 Est. 83791 -3603 x -23340 x 2023 Est. 86807 -3733 x -24180 x
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