Question
Identify 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, 2019Net
Identify 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, 2019Net sales$114,094Cost of sales77,442Gross margin36,652ExpensesSelling, general and administrative27,861Depreciation and amortization2,363Operating income6,428Interest expense, net998Pretax earnings5,430Income tax provision1,728Net earnings$3,702
Compute its net operating profit after tax (NOPAT) for the 12 months ended February 1, 2019, assuming a 22% total statutory tax rate.
Note:Round your answer to the nearest whole dollar (millions).
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