Compute Net Operating AssetsRefer to the balance sheet information below for Home Depot.$ millionsFeb. 3, 2019Jan. 28, 2018Operating assets$40,114$38,887Nonoperating assets1,6893,415Total assets$41,803$42,302Operating liabilities$15,845$15,245Nonoperating liabilities27,74225,677Total liabilities$43,587$40,922Net sales$102,793 Operating expense before tax88,039 Net operating profit before tax (NOPBT)14,754 Other expense925 Income before tax13,829 Tax expense3,263 Net income$10,566 Compute net operating assets for the years ended February 3, 2019, and January 28, 2018.$ millionsFebruary 3, 2019January 28, 2018Net operating assets (NOA)AnswerAnswer

Net operating assets can be determined with the formula below:Net Operating assets = Operating…

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Compute net operating assets for the years ended February 3, 2019, and January 28, 2018.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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$ millions	Feb. 3, 2019	Jan. 28, 2018
Operating assets	$40,114	$38,887
Nonoperating assets	1,689	3,415
Total assets	$41,803	$42,302
Operating liabilities	$15,845	$15,245
Nonoperating liabilities	27,742	25,677
Total liabilities	$43,587	$40,922
Net sales	$102,793
Operating expense before tax	88,039
Net operating profit before tax (NOPBT)	14,754
Other expense	925
Income before tax	13,829
Tax expense	3,263
Net income	$10,566

$ millions	February 3, 2019	January 28, 2018
Net operating assets (NOA)	Answer	Answer

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