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Identify and Compute NOPAT Following is the income statement for Lowes Companies Inc....

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Accounting

Identify and Compute NOPAT
Following is the income statement for Lowes Companies Inc.
LOWES COMPANIES INC.
Consolidated Statement of Earnings
Twelve Months Ended (In millions) Feb. 1,2019
Net sales $67,744
Cost of sales 45,981
Gross margin 21,763
Expenses
Selling, general and administrative 16,542
Depreciation and amortization 1,403
Operating income 3,818
Interest expense, net 593
Pretax earnings 3,225
Income tax provision 1,026
Net earnings $2,199
Compute its net operating profit after tax (NOPAT) for the 12 months ended February 1,2019, assuming a 22% total statutory tax rate.
Feb. 1,2019
NOPAT Answer
2,329.46

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