Following is the income statement for Lowe's Companies Inc.LOWE'S COMPANIES INC.Consolidated Statement of EarningsFeb. 1,Twelve Months Ended (in millions)2019Net sales$80,579Cost of sales54,693Gross margin25,886ExpensesSelling, general and administrative19,677Depreciation and amortization1,669Operating income4,540Interest expense, net705Pretax earnings3,8351,220$2,615Income tax provisionNet earningsCompute its net operating profit after tax (NOPAT) for the 12 months ended February 1, 2019, assuming a 22% total statutory tax rate.Feb. 1, 2019NOPAT $

To calculate the Net Operating Profit After Tax (NOPAT) for the 12 months ended February 1, 2019,…

Answered: Following is the income statement for…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 17PB: Using the following Company X information, prepare a Retained Earnings Statement: Retained earnings...

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Using the following Company X information, prepare a Retained Earnings Statement: Retained earnings balance January 1, 2019, $121,500 Net income for year 2019, $145,800 Dividends declared and paid for year 2019, $53,000
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.
Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of Earnings Feb. 1, Twelve Months Ended (in millions) 2019 Net sales $74,161 Cost of sales 50,337 Gross margin 23,824 Expenses Selling, general and administrative 18,110 Depreciation and amortization 1,536 Operating income 4,178 Interest expense, net 649 Pretax earnings 3,529 Income tax provision 1,123 Net earnings $2,406 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 $ 0
Identify and Compute NOPATFollowing 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 $142,618 Cost of sales 96,802 Gross margin 45,816 Expenses Selling, general and administrative 34,826 Depreciation and amortization 2,954 Operating income 8,036 Interest expense, net 1,248 Pretax earnings 6,788 Income tax provision 2,160 Net earnings $4,628 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 (millions).
Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of Earnings Twelve Months Ended (In millions) Net sales Cost of sales Gross margin Expenses Selling, general and administrative Depreciation and amortization Operating income Interest expense, net Pretax earnings Income tax provision Net earnings Feb. 1, 2019 $114,094 77,442 36,652 27,861 2,363 6,428 998 5,430 1,728 $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 (millions). $ 5,014 X
Identify and Compute NOPAT 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 $80,579 Cost of sales 54,693 Gross margin 25,886 Expenses Selling, general and administrative 19,677 Depreciation and amortization 1,669 Operating income 4,540 Interest expense, net 705 Pretax earnings 3,835 Income tax provision 1,220 Net earnings $2,615 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
Randall Corporation reported the following revenue data:Year Net revenues (in millions)$$$$6,8007,0046,7327,2762016201720182019Use 2016 as the base year. The trend percentage in 2019 is closest toa. 93%.b. 104%.c. 107%.d. 112%
Below is Rodrigues Ltd's income statement and two balance sheets: Rodrigues Ltd Income Statement for year ending 30th June 2021 Sales COGS Operating expense Depreciation Interest expense Income before tax Tax at 30% Net income $m 600 240 100 40 10 210 63 147 Assets Current assets PPE Cost Accumul. depr. Carrying amount Total assets Rodrigues Ltd Balance Sheet as at 30th June Liabilities Current liabilities Non-current liabilities Owners' equity Retained earnings Contributed equity Total L and OE 2021 $m 98 800 140 660 758 60 130 80 488 758 2020 $m 73 920 100 820 893 50 120 100 623 893 Which of the following statements about the financial year from 30 June 2020 to 30 June 2021 is NOT correct? O a. The increase in net working capital (ANWC) was $15m. O b. Net capital expenditure was negative because in net terms, more property, plant and equipment (PPE) was bought rather than sold. O c. The increase in net working capital was positive largely because in net terms, more inventory was…
Forecast an Income Statement Following is the income statement for Medtronic PLC. Consolidated Statement of Income ($ millions) For Fiscal Year Ended April 26, 2019 Net sales $27,807 Costs and expenses Cost of products sold 8,331 Research and development expense 2,330 Selling, general, and administrative expense 9,480 Amortization of intangible assets 1,605 Restructuring charges, net 198 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 5,439 Other nonoperating income, net (373) Interest expense 1,314 Income before income taxes 4,498 Income tax provision 547 Net income 3,951 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $3,932 Use the following assumptions to prepare a forecast of the company’s income statement for FY2020. Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal…
Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $661,910Interest expense 116,810Average total assets 6,280,000Determine the return on total assets. If required, round the answer to one decimal place.fill in the blank 1 %
Please calculate the verticle and horizontal analysis of the Income statement. Consolidated Statements of Earnings (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified 12/31/2020 Vertical Analysis 12/31/2019 Vertical Analysis Horizontal Analysis Income Statement [Abstract] NET SALES $83,176 $78,812 Cost of Sales 54,222 51,422 GROSS PROFIT 28,954 27,390 Operating Expenses: Selling, General and Administrative 16,834 16,597 Depreciation and Amortization 1,651 1,627 Total Operating Expenses 18,485 18,224 OPERATING INCOME 10,469 9,166 Interest and Other (Income) Expense: Interest and Investment Income -337 -12 Interest Expense 830 711 Other 0 0 Interest and Other, net 493 699 EARNINGS BEFORE PROVISION FOR INCOME TAXES 9,976 8,467 Provision for Income Taxes 3,631 3,082 NET EARNINGS $6,345 $5,385…
Prepare a vertical analysis of the income statement data for Whispering Winds Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) WHISPERING WINDS CORPORATIONComparative Income StatementsFor the Years Ended December 31 2022 2021 $ Percent $ Percent Net sales $688,000 Enter percentages % $576,000 Enter percentages % Cost of goods sold 445,000 Enter percentages % 417,000 Enter percentages % Gross profit 243,000 Enter percentages % 159,000 Enter percentages % Operating expenses 145,000 Enter percentages % 108,000 Enter percentages % Net income $98,000 Enter percentages % $51,000 Enter percentages %

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