Selected balance sheet and income statement information for Nordstrom, Inc, a department store retailer, follows.

a. Compute its 2013 return on net operating assets (RNOA).

b. Disaggregate RNOA into net operating profit margin (NOPM) and net operating asset turnover (NOAT). Confirm that \(\mathrm{RNOA}=\) NOPM \(\times\) NOAT.
Q4-18.
Following is the balance sheet for Lowe's Companies, Inc. Identify and compute its 2013 net operating assets (NOA).

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Company ($ millions) Nordstrom, Inc.......... Ticker JWN 2013 Revenues $11,762 2013 NOPAT $836 2013 Net Operating Assets $3,759 2012 Net Operating Assets $3,726