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$327Short-term investments139Merchandise inventorynet8,033Other current assets600Total current assets9,099Property, less accumulated depreciation11,787Long-term investments164Deferred income taxesnet188Goodwill194Other assets636Total assets$22,068Current liabilities Short-term borrowings$462Current maturities of long-term debt710Accounts payable5,294Accrued compensation and employee benefits423Deferred revenue831Other current liabilities1,551Total current liabilities9,271Long-term debt, excluding current maturities9,203Deferred revenueextended protection plans529Other liabilities735Total liabilities19,738Shareholders equity Preferred stock$5 par value, none issued-Common stock$0.50 par value256Capital in excess of par value-Retained earnings2,208Accumulated other comprehensive loss(134)Total shareholders equity2,330Total liabilities and shareholders equity$22,068

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

Feb. 01, 2019NOAAnswer