Homework Answers
(a)
| 2015 NOPAT | Operating Income * (1 - Tax Rate) |
| 6946*(1-0.37) | |
| = $4,375.98 |
(b)
| NOA | 2015 | 2014 |
| Total Assets | 32,718.00 | 31,209.00 |
| Less: | ||
| Non Operating Investments | (117.00) | (102.00) |
| Financial Assets | ||
| Cash | (1,798.00) | (1,987.00) |
| Marketable Securities | (127.00) | (1,454.00) |
| Add: | ||
| Financial Liabilities | ||
| Debt | 10,797.00 | 6,811.00 |
| NOA | $ 41,473.00 | $34,477.00 |
(c)
| 2015 | 2014 | |
| RNOA | 10.55 | 13.04 |
| (Net operating Income/Net Operating Assets) |
| NOPM (Net Operating Profit / Net sales) | 14.45 | 14.13 |
| NOAT (Net sales/ Net operating Assets) | 73.00 | 92.30 |
(d) NNO = Debt - Non operating Investments
| NNO 2015 | $10,680.00 |
| NNO 2014 | $6,709.00 |
(e) ROE = Net Income / Shareholder's Equity
| ROE 2015 | 41.28 |
(f)
| Non operating return component of ROE | Financial Leverage * spread | |
| Financial Leverage | Total Debt/ Shareholders Equity |
| 10,797.00 | |
| 11,708.00 | |
| 0.92 or 92% |
| Spread | RNOA - NFR |
NFR (Net Financial rate) = Net Financial Expense/ Net Financial
Obligations
NFR = 0.01
Spread = 0.09
| Non operating return component of ROE | 8.28% |
(g) Answer is (b)
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please help with correct answer. i need help urgently
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