# (a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and...

###### Question:

(a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%. (Round your answer to the nearest whole number.)

($millions) (b) Compute net operating assets (NOA) for 2018 and 2017. 2018 NOA =Answer ($ millions)

($millions) (c) Compute and disaggregate 3M’s RNOA into net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2018. Demonstrate that RNOA = NOPM × NOAT. (Round your answers to two decimal places. Do not round until your final answer. Do not use NOPM x NOAT to calculate RNOA.) 2018 RNOA =Answer % 2018 NOPM =Answer % 2018 NOAT =Answer (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOA = NNO + Total equity 2018 NNO =Answer ($ millions)

($millions) (e) Compute return on equity (ROE) for 2018. (Round your answers to two decimal places. Do not round until your final answer.) 2018 ROE =Answer % (f) What is the nonoperating return component of ROE for 2018?(Round your answers to two decimal places.) 2018 nonoperating return =Answer % Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. 3M COMPANY Consolidated Statements of Income For Years ended December 31 ($ millions) 2018 2017 Net sales $32,765$31,657 Operating expenses Cost of sales 16,682 16,055 Selling, general and administrative expenses 7,602 6,626 Research, development and related expenses 1,821 1,870 Gain on sale of businesses (547) (586) Total operating expenses 25,558 23,965 Operating income 7,207 7,692 Other expense, net* 207 144 Income before income taxes 7,000 7,548 Provision for income taxes 1,637 2,679 Net income including noncontrolling interest 5,363 4,869 Less: Net income attributable to noncontrolling interest 14 11 Net income attributable to 3M $5,349$4,858 *Interest expense, gross $350 million in 2018 and$322 million in 2017.
3M COMPANY Consolidated Balance Sheets At December 31 ($millions, except per share amount) 2018 2017 Current Assets Cash and cash equivalents$ 2,853 $3,053 Marketable securities 380 1,076 Accounts receivable 5,020 4,911 Total inventories 4,366 4,034 Prepaids 741 937 Other current assets 349 266 Total current assets 13,709 14,277 Property, plant and equipment-net 8,738 8,866 Goodwill 10,051 10,513 Intangible assets-net 2,657 2,936 Other assets 1,345 1,395 Total assets$36,500 $37,987 Current liabilities Short-term borrowings and current portion of long-term debt$1,211 $1,853 Accounts payable 2,266 1,945 Accrued payroll 749 870 Accrued income taxes 243 310 Other current liabilities 2,775 2,709 Total current liabilities 7,244 7,687 Long-term debt 13,411 12,096 Pension and postretirement benefits 2.987 3,620 Other liabilities 3,010 2,962 Total liabilities 26,652 26,365 3M Company shareholders' equity Common stock, par value$9 $9 Additional paid-in capital 5,643 5,352 Retained earnings 40,636 39,115 Treasury stock (29,626) (25,887) Accumulated other comprehensive income (loss) (6,866) (7,026) Total 3M Company shareholders' equity 9,796 11,563 Noncontrolling interest 52 59 Total equity 9,848 11,622 Total liabilities and equity$36,500 $37.987 ## Answers #### Similar Solved Questions 1 answer ##### The VWX Partnership is undergoing an installment liquidation. Partners Victor, Whitney and Xavier share income in... The VWX Partnership is undergoing an installment liquidation. Partners Victor, Whitney and Xavier share income in a 3:5:2 ratio. The partnership balance sheet is as follows: Assets Cash - 7,000 AR - 10,000 Loan Rcvable (Victor) - 13,000 Inventory - 25,000 Buildings and equipment, net - 545,000 TOTAL... 2 answers ##### So i know that theres something Astronomically wrong with this quote but cannot figure out exactly what, would appreciate some help so i know that theres something Astronomically wrong with this quote but cannot figure out exactly what, would appreciate some help!!! "There's a full moon rising just about midnight, theres a high tide comin' 'round just about dawn" PLEASE, PLEASE, PLEASE, HELP ME!!!... 1 answer ##### 6/105 The semicircular disk of mass m = 2 kg is mounted in the light hoop... 6/105 The semicircular disk of mass m = 2 kg is mounted in the light hoop of radius r = 150 mm and released from rest in position (a). Determine the angular velocity ω of the hoop and the normal force N under the hoop as it passes position (b) after rotating through 180°. The ho... 1 answer ##### Fuel cells can be powered by the reaction between formic acid and oxygen as following As... Fuel cells can be powered by the reaction between formic acid and oxygen as following As formic acid and oxygen react together inside the fuel cell, it produced both electrical power and heat. While there is no shaft work produced by the fuel cells, this electrical power produced by the fuel cells c... 1 answer ##### A dogsled team has four dogs that pull a person and a sled with a combined... A dogsled team has four dogs that pull a person and a sled with a combined mass of 100 kg. a) They start from rest and reach a speed of 45 km/h in 2.5 s. What is the net force applied by each dog? Hint: you need to convert 45 km/h to m/s first! b) Suppose each dog can pull with a force of magnitude ... 1 answer ##### How do you rationalize the denominator and simplify 1/(sqrtx-1)? How do you rationalize the denominator and simplify 1/(sqrtx-1)?... 1 answer ##### Its not 2.25x10-5 7. [Ipt] The flowmeter in the figure on the right shows a difference... Its not 2.25x10-5 7. [Ipt] The flowmeter in the figure on the right shows a difference in height, h = 5.80 cm, on an oil pipeline 202 cm2 in cross section. If the narrow section of the pipeline (on the right) has a diameter of 9.0 cm, what is the pipeline flow rate?... 1 answer ##### Find the solution of the given IVP y" + 3y' + 2y = uz(t); y(0) =... Find the solution of the given IVP y" + 3y' + 2y = uz(t); y(0) = 0, y'(0) = 1 a. y = et-e-t + uz(t) [] + e-(6+2) +22(6+2) b. y = ef +e-t+uz(t)ſ - e-(6-2) + şe-26-2)] + uz(t) - e-(1-2) 3e=2(-2)] e + C. y = e-t-e-27 d. None of these... 1 answer ##### For each of the problems below perform an hypothesis test. State the null and alternative hypothesis, the p-value and your conclusion in context of the problem. Perform each test at a .05 significance... For each of the problems below perform an hypothesis test. State the null and alternative hypothesis, the p-value and your conclusion in context of the problem. Perform each test at a .05 significance. 1. A manufacturer of a plasticised line used in home-assembly mobiles advertises that their produc... 1 answer ##### Miller Company's most recent contribution format income statement is shown below: Total$370,000 259,000 Per Unit...
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