Compute NOPAT The income statement for TJX Companies follows. THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) February 2, 2019 Net sales $38,972,934 Cost of sales, including buying and occupancy costs 27,831,177 Selling, general and administrative expenses 6,923,564 Pension settlement charge 36,122 Interest expense, net 8,860 Income before provision for income taxes 4,173,211 Provision for income taxes 1,113,413 Net income $ 3,059,798 Assume that the combined federal and state statutory tax rate is 22%. a. Compute NOPAT using the formula: NOPAT = Net income + NNE
Compute NOPAT The income statement for TJX Companies follows. THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) February 2, 2019 Net sales $38,972,934 Cost of sales, including buying and occupancy costs 27,831,177 Selling, general and administrative expenses 6,923,564 Pension settlement charge 36,122 Interest expense, net 8,860 Income before provision for income taxes 4,173,211 Provision for income taxes 1,113,413 Net income $ 3,059,798 Assume that the combined federal and state statutory tax rate is 22%. a. Compute NOPAT using the formula: NOPAT = Net income + NNE
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter2: Financial Statements And The Annual Report
Section: Chapter Questions
Problem 2.8E: Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of...
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Compute NOPAT
The income statement for TJX Companies follows.
| THE TJX COMPANIES, INC. Consolidated Statements of Income |
|
|---|---|
|
Fiscal Year Ended ($ thousands) |
February 2, 2019 |
| Net sales | $38,972,934 |
| Cost of sales, including buying and occupancy costs | 27,831,177 |
| Selling, general and administrative expenses | 6,923,564 |
| Pension settlement charge | 36,122 |
| Interest expense, net | 8,860 |
| Income before provision for income taxes | 4,173,211 |
| Provision for income taxes | 1,113,413 |
| Net income | $ 3,059,798 |
Assume that the combined federal and state statutory tax rate is 22%.
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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