Last year, J&H Corp. reported a book value of $600,000 in current assets, of which 15% is cash, 17% is short-term investments, and the rest is accounts receivable and inventory.
	The company reported $510,000 of current liabilities including accounts payable and accruals. Interestingly, the company had no notes payable outstanding, and there were no changes in the companys accounts payable during the year.
	The company, however, invested heavily in plant and equipment to support its operations. It reported a book value of $960,000 for its operating long-term assets last year.

Income Statement For the Year Ended on December 31

	J&H Corp.	Industry Average
Net sales	$45,000,000	$56,250,000
Operating costs, except depreciation and amortization	36,000,000	45,000,000
Depreciation and amortization	1,800,000	2,250,000
Total operating costs	37,800,000	47,250,000
Operating income (or EBIT)	$7,200,000	$9,000,000
Less: Interest expense	720,000	1,350,000
Earnings before taxes (EBT)	$6,480,000	$7,650,000
Less: Taxes (40%)	2,592,000	3,060,000
Net income	$3,888,000	$4,590,000

Based on the information given to him, Jeffery submits a report on January 1 with some important calculations for management to use, both for analysis and to devise an action plan. Complete the following statements in his report. If your answer is negative, use the minus sign.

Statement #1: J&H Corp.s NOPAT is $________, which is _______(greater or less) than the industry average of $_______

Statement #2: The company is using _________in net operating working capital (NOWC).

Statement #3: J&H Corp. is generating $_______ in net cash flow from its operations and an accounting profit of _______

Statement #4: The firm uses $_______ of total net operating capital to run the business. This value is computed as the _____(sum or quotient or product) of J&H Corp.s net operating working capital and its _________ (Short-term investment or cash balance or operating long-term assets)

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