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Identify and Compute NOPAT Following is the income statement for Lowes Companies Inc. LOWES COMPANIES INC. Consolidated Statement of Earnings Twelve Months Ended (In millions)
Identify and Compute NOPAT Following is the income statement for Lowes Companies Inc.
LOWES COMPANIES INC. | ||
---|---|---|
Consolidated Statement of Earnings | ||
Twelve Months Ended (In millions) | Feb. 1, 2019 | |
Net sales | $128,356 | |
Cost of sales | 87,122 | |
Gross margin | 41,234 | |
Expenses | ||
Selling, general and administrative | 31,343 | |
Depreciation and amortization | 2,659 | |
Operating income | 7,232 | |
Interest expense, net | 1,123 | |
Pretax earnings | 6,109 | |
Income tax provision | 1,944 | |
Net earnings | $4,165 |
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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