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Rus_ich [418]
3 years ago
8

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

$ millions) 2016 Net sales $14,095 Credit card revenues 342 Total revenues 14,437 Cost of sales and related buying and occupancy costs (9,168) Selling, general and administrative expenses (4,168) Earnings before interest and income taxes 1,101 Interest expense, net (125) Earnings before income taxes 976 Income tax expense (376) Net earnings $ 600 Compute NOPAT for Nordstrom for 2016. (Hint: Treat credit card revenues as operating.)
Business
1 answer:
Anon25 [30]3 years ago
8 0

Answer:

$681,250,000

Explanation:

Net operating profit after tax = Earnings before interest and income taxes - ( Income tax expense+(Interest expense, net* tax rate)

Net operating profit after tax = $1,101 - ($376 + ($125*0.37)

Net operating profit after tax = $1,101 - ($376 + $46.25)

Net operating profit after tax = $1,101 - $422.25

Net operating profit after tax = $678.75 * $'million

Net operating profit after tax = $678,750,000

So,  NOPAT for Nordstrom in 2016 is $678,750,000

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Answer:

Cost of goods sold = 1,116

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Explanation:

In LIFO (last in first out) method, the goods come in most recently will come out first when it comes to sales transaction. So, 21 units of sales during 2021 includes 12 units purchased at Sep.8 and 9 units of beginning balance:

Cost of goods sold during 2021 = 12 x 54 + 9 x 52 = 1,116.

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djverab [1.8K]

Answer:

B. Must be written to be enforceable

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In the United state, sale of personal property for $500 or more must be written to be enforceable. These kind of contracts are said to be within the statute of fraud.

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3 years ago
Forrester Company is considering buying new equipment that would increase monthly fixed costs from $276,000 to $544,500 and woul
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Answer:

The correct answer is E.

Explanation:

Giving the following information:

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3 years ago
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