Analysis and Interpretation of Profitability alance sheets and income statements for 3M Company follow. 3M COMPANY Consolidated Statements of Income Years Ended Dec. 31 (S millions) 2015 2014 2013 Net sales. Operating expenses $30,274 $31,821 Cost of sales Selling, general and administrative Research, development and related expenses 16.447 6.384 15,383 6,182 1,763 16,106 6,469 1.715 24,205 6,666 1,770 Total operating expenses.... Operating income Interest expense and income 24,688 7.135 Interest expense. Interest income. 145 149 (26) 123 142 109 7,026 2,028 4,998 104 6,562 1,841 4,721 Income before income taxes Provision for income taxes 1,982 Net income including noncontrolling interest. . Less: Net income attributable to noncontrolling interest...8 Net income attributable to 3M.... 4,841 4,833 $ 4,956 $4,859 3M COMPANY Consolidated Balance Sheets December 31 S millions, except per share amount) Current assets 2015 2014 Marketable securities- current Accounts receivable-net of allowances of $91 and $94. ...$ 1.798 $1,897 1,439 4,238 118 4.154 Finished goods 1,081 902 1,008 Work in process Raw materials and supplies . Total inventories 855 3,518 . 1,398 3,705 1,023 12,303 Total current assets. Marketable securities-noncurrent 102 23,09822,841 (14,583)(14,352) 8,489 7,050 Property, plant and equipment-net .. . 8.515 188 1,053 1.435 46 1,769 Prepaid pension benefits Other assets. $32,718 $31,209