ANSWER IS NOT 18.47% AND 17.55%

Compute RNOA with Disaggregation Selected balance sheet and income statement information for Home Depot follows.

$ millions	Jan. 31, 2016	Feb. 01, 2015
Operating assets	$40,683	$38,573
Nonoperating assets	2,266	1,773
Total assets	42,949	40,346
Operating liabilities	15,043	13,552
Nonoperating liabilities	21,275	17,157
Total liabilities	36,318	30,709
Sales	89,234
Net operating profit before tax (NOPBT)	12,124
Nonoperting expense before tax	803
Tax expense	4,001
Net income	7,320

Round answers to two decimal places (ex: 0.12345 = 12.35%).

a. Compute return on net operating assets (RNOA). Assume a statutory tax rate of 37%. Answer

%

b. Disaggregate RNOA into components of profitability and productivity and show that the product of the two components equals RNOA. Assume a statutory tax rate of 37%. NOPM Answer

% NOAT Answer