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$ millions HAL SLBTotal revenue $22,795 $31,174Pretax net nonoperating expense 620 405Net income 1,823 2,395Average operating assets 25,697 74,620Average operating liabilities 5,59415,674Marginal tax rate 22%

$ millions HAL SLBTotal revenue $22,795 $31,174Pretax net nonoperating expense 620 405Net income 1,823 2,395Average operating assets 25,697 74,620Average operating liabilities 5,59415,674Marginal tax rate 22% 19%Return on equity 18.56% 5.86%

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a. Compute return on net operating assets (RNOA) for each company. b. Disaggregate RNOA into net operating profit margin (NOPM) and net operating asset turnover (NOAT) for each company. Do not round until your final answer. Round answers to two decimal places (percentage example: 0.12345 = 12.35%)

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