Compute Net Operating Profit after Tax Selected balance sheet and income stateme

Question

Compute Net Operating Profit after Tax Selected balance sheet and income statement information for Home Depot follows $ millions Operating assets Nonoperating assets Total assets Jan. 31, 2016 $40,683 2,266 42,949 15,043 21,275 36,318 6,631 89,234 12,124 803 4,001 7,320 Feb. 01, 2015 $38,573 1,773 40,346 13,552 17,157 30,709 9,637 Operating liabilities Nonoperating liabilities Total liabilities Total stockholders' equity Sales Net operating profit before tax (NOPBT) Nonoperting expense before tax Tax expense Net income Compute net operating profit after tax for the year ended January 31, 2016, Assume a statutory tax rate of 37% Round answer to the nearest whole number. $ 8,926X Check

Explanation / Answer

Ans. Net operating profit after tax. = 7638

Calculation:

Net operating profit before tax. 12124

Less: Statutory tax @37%. 4485.88

Net operating profit after tax. 7638.12

  

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