Assume that Best Buy Co's return on equity (ROE) for 2010 is 24.03% and its return on net operating assets (RNOA) is 21.08%. Assume that the combined federal and state statutory tax rate is 37%. a. Compute net nonoperating expense (NNE) and net operating profit after tax (NOPAT). Assume that Equity and other investments are operating. Round to the nearest whole number, if applicable.
2010 NNE - ($ millions)
2010 NOPAT - ($ millions)
b. Compute net nonoperating obligations (NNO) for 2010 and 2009.
2010 NNO $ millions)
2009 NNO- ($ millions)
c. Compute financial leverage (FLEV). Round answer to four decimal places.
2010 FLEV =
d. Compute NNEP and Spread. Round answers to two decimal places (example: 0.12345 = 12.35%).
2010 NNEP = %
2010 Spread = 0 46
e. Compute the noncontrolling interest ratio (NCI ratio). Round answer to four decimal places.
2010 NC ratio =
f. Confirm the relation: ROE = [RNOA + (FLEV * Spread)] * NCI ratio.
2010 ROE =___ % =0 9+10 ΧΟ %)] x 0

Which one of the following is never part of recording the requisition and issuance of raw materials in a job order cost system? debit finished goods inventory debit manufacturing overhead credit raw materials inventory debit work in process

Assume the perpetual inventory method is used. 1) the company purchased $12,500 of merchandise on account under terms 2/10, n/30. 2) the company returned $1,200 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $18,800 cash. what effect will the return of merchandise to the supplier have on the accounting equation?

Selected information about income statement accounts for the reed company is presented below (the company's fiscal year ends on december 31): 2018 2017sales $ 4,400,000 $ 3,500,000cost of goods sold 2,860,000 2,000,000administrative expenses 800,000 675,000selling expenses 360,000 312,000interest revenue 150,000 140,000interest expense 200,000 200,000loss on sale of assets of discontinued component 50,000 —on july 1, 2018, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by gaap. the assets of the component were sold on september 30, 2018, for $50,000 less than their book value. results of operations for the component (included in the above account balances) were as follows: 1/1/18-9/30/18 2017 sales $ 400,000 $ 500,000 cost of goods sold (290,000 ) (320,000 )administrative expenses (50,000 ) (40,000 )selling expenses (20,000 ) (30,000 )operating income before taxes $ 40,000 $ 110,000 in addition to the account balances above, several events occurred during 2018 that have not yet been reflected in the above accounts: a fire caused $50,000 in uninsured damages to the main office building. the fire was considered to be an infrequent but not unusual event. inventory that had cost $40,000 had become obsolete because a competitor introduced a better product. the inventory was sold as scrap for $5,000.income taxes have not yet been recorded. required: prepare a multiple-step income statement for the reed company for 2018, showing 2017 information in comparative format, including income taxes computed at 40% and eps disclosures assuming 300,000 shares of common stock. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)