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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 $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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