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The income statement for The TJX Companies, Inc., follows. THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) January 28, 2006
The income statement for The TJX Companies, Inc., follows.
THE TJX COMPANIES, INC. Consolidated Statements of Income | |
---|---|
Fiscal Year Ended ($ thousands) | January 28, 2006 |
Net sales | $16,057,935 |
Cost of sales, including buying and occupancy costs | 12,295,016 |
Selling, general and administrative expenses | 2,723,960 |
Provision (credit) for computer intrusion related costs | - |
Interest expense (revenue), net | 29,632 |
Income from continuing operations before provision for income taxes | 1,009,327 |
Provision for income taxes | 318,904 |
Income from continuing operations | 690,423 |
Gain from discontinued operations, net of income taxes | - |
Net income | $ 690,423 |
Assume that the combined federal and state statutory tax rate is 38.9%.
a. Compute NOPAT using the formula: NOPAT = Net income + NNE.
Round to the nearest whole number.
b. Compute NOPAT using the formula: NOPAT = NOPBT Tax on operating profit.
Round to the nearest whole number.
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