Compute the Return on Net Operating Assets for year 2018 using the NOPAT/Average NOA formula. Show the formula and calculations

Income Statement		2018		2017
Sales Revenue		$180,000		$165,000
Cost of Goods Sold		110,000		100,000
Gross Profit		70,000		65,000
Operating expenses		53,300		50,400
Interest expense		2,700		2,600
Income before income tax		14,000		12,000
Income tax expense		4,000		3,000
Net Income		$10,000		$9,000
Balance Sheet		2018		2017
Cash		$22,000		$16,000
Accounts Receivable (net)		19,000		17,000
Investments (short-term)		3,000		5,000
Inventory		34,000		30,000
Prepaid Expenses		2,000		4,000
Property, plant and equipment (net)		45,000		38,000
		$125,000		$110,000
Accounts Payable		$19,000		$15,000
Interest Payable		800		600
Accrued expenses		3,200		2,400
Unearned revenue		3,000		2,000
Notes Payable (long-term)		40,000		45,000
Common Stock ($5)		30,000		20,000
Retained Earnings		$29,000		$25,000
		$125,000		$110,000