Question
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 | $61,326 |
| Cost of sales | 41,625 |
| Gross margin | 19,701 |
| Expenses | |
| Selling, general and administrative | 14,975 |
| Depreciation and amortization | 1,270 |
| Operating income | 3,456 |
| Interest expense, net | 537 |
| Pretax earnings | 2,919 |
| Income tax provision | 929 |
| Net earnings | $1,990 |
Compute its net operating profit after tax (NOPAT) for the 12 months ended February 1, 2019, assuming a 22% total statutory tax rate.
| Feb. 1, 2019 | ||
|---|---|---|
| NOPAT |
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
3rd Canadian Edition
017689859X, 9780176898595
