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) 2015 2014 2013 Net sales $30,274 $31,821 $30,871 Operating expenses Cost of sales 15,383 16,447 16,106 Selling, general and administrative expenses 6,182 6,469 6,384 Research, development and related expenses 1,763 1,770 1,715 Total operating expenses 23,328 24,686 24,205 Operating income 6,946 7,135 6,666 Interest expenses and income Interest expense 149 142 145 Interest income (26) (33) (41) Total interest expense--net 123 109 104 Income before income taxes 6,823 7,026 6,562 Provision for income taxes 1,982 2,028 1,841 Net income including noncontrolling interest $4,841 $4,998 $4,721 Less: Net income attributable to noncontrolling interest 42 62 Net income attributable to 3M $ 4,833 $ 4,956 $ 4,659 Net income attributable to 3M $4,833 $4,956 $4,659 2015 2014 $1,798 $1,897 118 1,439 4,154 4,238 1,655 1,008 855 1,723 1,081 902 3M COMPANY Consolidated Balance Sheets At December 31 ($ millions, except per share amount) Current Assets Cash and cash equivalents Marketable securities-current Accounts receivable-net of allowances of $91 and $94 Inventories Finished goods Work in process Raw materials and supplies Total inventories Other current assets Total current assets Marketable securities-noncurrent Investments Property, plant and equipment Less: Accumulated depreciation Property, plant and equipment-net Goodwill Intangible assets-net Prepaid pension benefits Other assets 3,518 3,706 1,398 1,023 10,986 12,303 9 15 117 102 23,098 22,841 (14,583) (14,352) 8,515 8,489 9,249 7,050 2,601 1,435 188 46 1,053 1.769 $32,718 $31,209 Total assets Liabilities Current liabilities Short-term borrowings and current portion of long-term debt $2,044 Accounts payable 1,694 Accrued payroll 644 Accrued income taxes 332 Other current liabilities 2,404 Total current liabilities 7,118 $106 1,807 732 435 2,884 5,964 46 188 Other assets 1,053 1,769 Total assets $32,718 $31,209 Liabilities Current liabilities Short-term borrowings and current portion of long-term debt $2,044 $106 Accounts payable 1,694 1,807 Accrued payroll 644 732 Accrued income taxes 332 435 Other current liabilities 2,404 2,884 Total current liabilities 7,118 5,964 Long-term debt 8,753 6,705 Pension and postretirement benefits 3,520 3,843 Other liabilities 1,580 1,555 Total liabilities $20,971 $18,067 Equity 3M Company shareholders' equity Common stock, par value $0.01 per share: Shares outstanding-2015: 609,330,124; Shares outstanding-2014: 635,134,594 $9 $9 Additional paid-in capital 4,791 4,379 Retained earnings 36,575 34,317 Treasury stock (23,308) (19,307) Accumulated other comprehensive income (loss) (6,359) (6,289) Total 3M Company shareholders' equity 11,708 13,109 39 33 Noncontrolling interest Total equity $11,747 $13,142 Total liabilities and equity $32,718 $31,209 ( What is the nonoperating return component of ROE for 2015? (Round your answers to two decimal places.) 2015 nonoperating return = 0 X 96 (g) Which of the following statemente reflect the
