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a.L.'ompute net operating prot alter tax {N UPAJ') ror 2U 1 5. Assume that the combined Ieaeral and state statutory tax rate is 37%. b.Compute

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a.L.'ompute net operating prot alter tax {N UPAJ') ror 2U 1 5. Assume that the combined Ieaeral and state statutory tax rate is 37%. b.Compute net operating assets (N CA) for 2015 and 2014. Treat noncurrent investments as a nonoperating item. c.Compute and disaggregate 3M's RNOA into net operating prot margin (NOPM) and net operating asset turnover (NOAT) for 2015. Demonstrate that RNOA = NOPM X NOAT. d.Compute net nonoperating obligations (NNO) for 2015 and 2014. Conrm the relation: NOA = NNO + Total equity. e.Compute return on equity (ROE) for 2015. f. What is the nonoperating return component of ROE for 2015? g.Comment on the difference between ROE and RNOA. What inference can we draw from this comparison

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