Compute Net Operating AssetsSelected balance sheet and income statement information for Home Depot follows.$ millionsJan. 31, 2016Feb. 01, 2015Operating assets$40,783$38,673Nonoperating assets2,2911,798Total assets43,07440,471Operating liabilities15,06813,577Nonoperating liabilities21,27017,152Total liabilities36,33830,729Sales89,464 Net operating profit before tax (NOPBT)12,224 Nonoperting expense before tax828 Tax expense4,523 Net income6,873 Compute net operating assets for the years ended January 31, 2016 and February 1, 2015.2016 NOA $Answer 2015 NOA $Answer

Asset: An asset is a resource controlled by a company to generate a future cash inflow to the…

Answered: Compute net operating assets for the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Compute Net Operating Assets
Selected balance sheet and income statement information for Home Depot follows.

$ millions	Jan. 31, 2016	Feb. 01, 2015
Operating assets	$40,783	$38,673
Nonoperating assets	2,291	1,798
Total assets	43,074	40,471
Operating liabilities	15,068	13,577
Nonoperating liabilities	21,270	17,152
Total liabilities	36,338	30,729
Sales	89,464
Net operating profit before tax (NOPBT)	12,224
Nonoperting expense before tax	828
Tax expense	4,523
Net income	6,873

Compute net operating assets for the years ended January 31, 2016 and February 1, 2015.
2016 NOA $Answer

2015 NOA $Answer

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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