Compute NOPAT Using Tax Rates from Tax Footnote The income statement for The TJX Companies, Inc., follows. THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) January 29, 2011 Net sales $21,942,193 Cost of sales, including buying and occupancy costs 16,040,461 Selling, general and administrative expenses 3,710,053 Provision (credit) for computer intrusion related costs (11,550) Interest expense (revenue), net 39,137 Income from continuing operations before provision for income taxes 2,164,092 Provision for income taxes 824,562 Income from continuing operations 1,339,530 Gain from discontinued operations, net of income taxes 3,611 Net income $ 1,343,141 U. S. federal statutory income tax rate 35.0% Effective state income tax rate 4.1% Impact of foreign operation -0.5% All other -0.5% Worldwide effective income tax rate 38.1%

Panera bread is a chain of cafes serving sandwiches, soups, and freshly baked breads. the company began in 1981 with stores primarily located along the east coast of the united states. since then, the firm has expanded to over 1,300 locations throughout the united states and canada. the firm has strong earnings and has been designated by business week as a "significant growth company." panera bread executives are considering the idea of expanding globally by opening cafes in asia through a franchising strategy. which of the following, if true, supports the argument that panera bread should expand into asia through franchising? a: the panera bread menu changes rapidly, and each cafe's artisan bread bakers receive regular training on new recipes. b: panera bread executives want fast access to the asian market without a significant investment of capital. c: panera bread executives want to test the asian market with a short-term commitment that allows them to make quick profits. d: the panera bread mission is to make excellent bread available to customers around the world.

Roi analysis using dupont model. charlie? s furniture store has been in business for several years. the firm? s owners have described the store as a ? high-price, highservice? operation that provides lots of assistance to its customers. margin has averaged a relatively high 32% per year for several years, but turnover has been a relatively low 0.4 based on average total assets of $800,000. a discount furniture store is about to open in the area served by charlie? s, and management is considering lowering prices in order to compete effectively. required: a. calculate current sales and roi for charlie? s furniture store. b. assuming that the new strategy would reduce margin to 20%, and assuming that average total assets would stay the same, calculate the sales that would be required to have the same roi as they currently earned. c. suppose that you presented the results of your analysis in parts a and b of this problem to charlie, and he replied, ? what

Interest is credited to a fixed annuity no lower than the variable contract rate contract guaranteed rate current rate of inflation prime rate