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Following is the income statement for Lowe's Companies Inc
Following is the income statement for Lowe's Companies Inc.
LOWE'S COMPANIES INC.
Consolidated Statement of Earnings
Twelve Months Ended (In millions)Feb. 1, 2019
Net sales $114,094
Cost of sales 77,442
Gross margin 36,652
Expenses
Selling, general and administrative 27,861
Depreciation and amortization 2,363
Operating income 6,428
Interest expense, net 998
Pretax earnings 5,430
Income tax provision 1,728
Net earnings $3,702
Compute its net operating profit after tax (NOPAT) for the 12 months ended February 1, 2019, assuming a 22% total statutory tax rate.
Note: Round your answer to the nearest whole dollar.
Expert Solution
NOPAT =Operating Income* (1-Tax Rate)
here,
Operating income= 6428
Tax rate= 22%
So,
=$6428* (1- 0.22)
=$6428* 0.78
=$5,013.84
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