Business, 18.01.2021 21:50 Meiyuh1

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.)

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

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