Question - Compute Net Operating Assets
Selected balance sheet and income statement information for Home Depot follows.
$ millions Jan. 31, 2016 Feb. 01, 2015
Operating assets $40,333 $38,223
Non-operating assets 2,216 1,723
Total assets 42,549 39,946
Operating liabilities 14,918 13,427
Non-operating liabilities 21,315 17,197
Total liabilities 36,233 30,624
Total stockholders' equity 6,316 9,322
Sales 88,519
Net operating profit before tax (NOPBT) 11,774
Nonoperting expense before tax 753
Tax expense 4,012
Net income 7,009
Required - Compute net operating assets for the years ended January 31, 2016 and February 1, 2015.