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Selected balance sheet and income statement information from Amazon for 2016 through 2018 follows. $ millions 2018 2017 2016 Net operating profit after tax (NOPAT)

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Selected balance sheet and income statement information from Amazon for 2016 through 2018 follows. $ millions 2018 2017 2016 Net operating profit after tax (NOPAT) $11,307 $3,319 $2,633 Net income 10,375 3,124 2,442 Operating profit 12,794 4,229 4,312 Interest expense 1,332 797 455 Cash from operating activities 31,645 18,916 17,719 Current assets 77,354 62,003 47,154 Current liabilities 64,288 54,410 41,187 Cash and cash equivalents 32,703 21,138 19,914 Marketable securities 9,785 10,778 6,846 Total debt 22,085 23,258 7,232 Assets 167,527 135,249 85,904 Liabilities 111,953 97,385 60,270 Equity 40,936 26,046 18,128 Net operating assets (NOA) 24,246 20,178 938 a. Compute profitability measures RNOA and ROE for 2018 and 2017. In which year are the measures stronger? Round answers to one decimal place (ex: 0.2345 = 23.5%). 2017 50.9% 15.4% x 11.9% x 2018 RNOA ROE 25.3% X

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