Following is the income statement for Nordstrom Company Assume that the combined federal and state statutory tax rate is 37 ($ millions) ($ millions) 2016 Net Sales $14,095 Credit Card Revenues 342 Total Revenues 14,437 Cost of Sales (9,168) S G A (4,168) Earnings before interest and income tax 1,1...

Following is the income statement for Nordstrom Company. Assume that the combined federal and state statutory tax

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Following is the income statement for Nordstrom Company. Assume that the combined federal and state statutory tax rate is 37%. ($ millions)

($ millions) 2016

Net Sales	$14,095
Credit Card Revenues	342
Total Revenues	14,437
Cost of Sales	(9,168)
S. G & A	(4,168)
Earnings before interest and income tax	1,101
Net interest expense	(125)
Earnings before income taxes	976
Income tax expense	(376)
Net Earnings	$600

Statuary tax rate: 37%

Compute NOPAT for Nordstrom's 2016. (Hint: Treat credit card revenues as operating.)

a. $ 679 million

b. $1,136 million

c. $ 851 million

d. $ 725 million

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Following is the income statement for Nordstrom Company. Assume that the combined federal and state statutory tax

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Financial statements

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