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

$ millions	Jan. 31, 2016	Feb. 01, 2015
Operating assets	$40,583	$38,473
Nonoperating assets	2,241	1,748
Total assets	42,824	40,221
Operating liabilities	15,018	13,527
Nonoperating liabilities	21,340	17,222
Total liabilities	36,358	30,749
Total stockholders' equity	6,466	9,472
Sales	88,944
Net operating profit before tax (NOPBT)	12,024
Nonoperting expense before tax	778
Tax expense	4,208
Net income	7,038

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

a. Compute return on equity. Answer

%

b. Compute return on net operating assets (RNOA). Answer

%

c. Use ROE and RNOA to determine the nonoperating return for the year. Answer

%

d. Disaggregate RNOA into components of profitability and productivity and show that the product of the two components equals RNOA. NOPM Answer

% NOAT Answer

RNOA Answer