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Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of Earnings Twelve Months Ended (In millions)
Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of Earnings Twelve 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 Pretax earnings 2,715 Income tax provision Net earnings $1,851 499 864 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. $ 2,506
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