3M Company The financial statements of 3M are presented in Appendix 5B or can be accessed on the Take Action! CD.

Instructions Refer to these financial statements and the accompanying notes to answer the following questions.

(a) What were 3M’s total assets at December 30, 2001? At December 31, 2000?

(b) How much cash (and cash equivalents) did 3M have on December 30, 2001?

(c) What were 3M’s research and development costs in 1999? In 2001?

(d) What were 3M’s revenues in 1999? In 2001?

(e) Using 3M’s financial statements and related notes, identify items that may result in adjusting entries for prepayments and accruals.

(f) What were the amounts of 3M’s depreciation expense in 1999, 2000, and 2001?