The 2016 balance sheet of The New York Times Company shows net operating profit margin (NOPM) of 3.1%, net operating asset turnover (NOAT) of 4.39, return on equity of 3.5%, and adjusted return on assets of 2.2%. What is the company's nonoperating return? A. (24.0)% B. 7.9% C. (1.1)% D. (10.1)% E. None of the above

The non-operating return is -10.1%.

Explanation:

Non- operating return is the income which is received to the company and it is not related to the business core of the company. Its example is profit from the investment.

Computing the non- operating return of the company as:

ROE = RNOA + Non-operating return

where

ROE (Return on Equity) is 3.5%

RNOA (Return on net operating assets) = NOAT(net operating asset turnover) × NOPM(net operating profit margin)

RNOA = 4.39 × 3.1%

RNOA = 0.136

So,

Non- operating return = ROE - RNOA

Non- operating return = 3.5% - 0.136

Non- operating income = 3.5% - 13.6%

Non- operating income = -10.1%

Therefore, Non- operating income is -10.1%.

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