Compute NOPAT Selected income statement information for 2015 is presented below for Home Depot Inc. and Lowe’s Companies Inc.

Company ($ millions) Ticker Net Operating Profit Before Tax Pretax Net Nonoperating Expense Tax Expense Statutory Tax Rate Sales Home Depot . . . . . . . . . . . . . . . HD $11,774 $753 $4,012 37% $88,519 Lowe’s . . . . . . . . . . . . . . . . . . . LOW 4,971 552 1,873 37% 59,074

a. Compute NOPAT for each company.

b. Compute NOPAT as a percent of sales for each company—referred to as NOPM.