Identify and Compute Net Operating Assets

Following is the balance sheet for Lowes Companies Inc.

LOWES COMPANIES INC.
Consolidated Balance Sheet
$ millions, except par value Feb. 1, 2019
Current assets
Cash and cash equivalents	$275
Short-term investments	117
Merchandise inventorynet	6,764
Other current assets	505
Total current assets	7,661
Property, less accumulated depreciation	9,926
Long-term investments	138
Deferred income taxesnet	158
Goodwill	163
Other assets	536
Total assets	$18,582
Current liabilities
Short-term borrowings	$389
Current maturities of long-term debt	598
Accounts payable	4,458
Accrued compensation and employee benefits	356
Deferred revenue	700
Other current liabilities	1,306
Total current liabilities	7,807
Long-term debt, excluding current maturities	7,750
Deferred revenueextended protection plans	445
Other liabilities	619
Total liabilities	16,621
Shareholders equity
Preferred stock$5 par value, none issued	-
Common stock$0.50 par value	215
Capital in excess of par value	-
Retained earnings	1,859
Accumulated other comprehensive loss	(113)
Total shareholders equity	1,961
Total liabilities and shareholders equity	$18,582

Identify and compute net operating assets (NOA) as of February 1, 2019. Assume that longterm investments are nonoperating.

	Feb. 01, 2019
NOA