Projecting NOPAT and NOA Using Parsimonious Forecasting Method Following are Cisco Systems' sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its year ended July 31, 2016 ($ millions). Sales $52,580 Net operating profit after tax (NOPAT) 11,305 Net operating assets (NOA) 28,269 Use the parsimonious method to forecast Cisco's sales, NOPAT, and NOA for years 2017 through 2020 using the following assumptions. Sales growth per year 1.0% for 2017 and 2.0% thereafter Net operating profit margin (NOPM) 21.5% Net operating asset turnover (NOAT), based on NOA at July 31, 2016 1.86 Rounding instructions: . Round total revenue "unrounded" to two decimal places. Round total revenue "rounded", NOPAT and NOA answers to the nearest whole number. For NOPAT and NOA computations, use total revenue "rounded". $ millions 2017 Est 2018 Est. 2019 Est. 2020 Est. Total revenue (unrounded) $ 53, 105.8 v $ 54, 167.916 * $ 55,251.274 V $ 56,356.3 V Total revenue (rounded) 53, 105.8 x 54, 167.916 x 55,251.274 x 56,356.3 x NOPAT 11,417.747 x 11,646.102 x 11,879.024 x 12,116.604 x NOA 28,551.505 x 29,122.535 x 29,704.986 x 30,299.086 X Check