Refer to M4-20 in the textbook for Home Depot and the information presented for the Balance Sheet and Income Statement:

a. Compute Return on Equity

b. Compute Return on Assets

c. Compute Return on Net Operating Assets

2019 Operating assets 42,225 Nonoperating assets 1,778 Total assets 44,003 Operating Liabilities 16,679 Nonoperating Liabilities 29,202 Total liabilities 45,881 Net sales 108,203 Operating expenses before taxes 92,673 Net operating profit before tax 15,530 Other expense 974 Income before tax 14,556 Tax expense 3,435 Net earnings 11,121

2018 Operating assets 40,934 Nonoperating assets 3,595 Total assets 44,529 Operating Liabilities 16,047 Nonoperating Liabilities 27,028 Total liabilities 43,075