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Selected balance sheet and income statement information for Home Depot follows. $ millions Jan. 31, 2016 Feb. 01, 2015 Operating assets $40,583 $38,473 Nonoperating assets
Selected balance sheet and income statement information for Home Depot follows.
$ millions | Jan. 31, 2016 | Feb. 01, 2015 |
---|---|---|
Operating assets | $40,583 | $38,473 |
Nonoperating assets | 2,241 | 1,748 |
Total assets | 42,824 | 40,221 |
Operating liabilities | 15,018 | 13,527 |
Nonoperating liabilities | 21,340 | 17,222 |
Total liabilities | 36,358 | 30,749 |
Sales | 88,944 | |
Net operating profit before tax (NOPBT) | 12,024 | |
Nonoperting expense before tax | 778 | |
Tax expense | 4,208 | |
Net income | 7,038 |
Compute net operating profit after tax for the year ended January 31, 2016. Assume a statutory tax rate of 37%. Round answers to the nearest whole number.
a. Compute NOPAT using the formula: NOPAT = Net income + NNE
$Answer
b. Compute NOPAT using the formula: NOPAT = NOPBT Tax on operating profit
$Answer
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