Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow.

(a) Compute net operating profit after tax (NOPAT) for 2008. Assume that the combined federal and statutory rate is: 35.9% (Round your answer to the nearest whole number.)

2008 NOPAT =

(b) Compute net operating assets (NOA) for 2008 and 2007. Treat noncurrent Investments as a nonoperating item.

2008 NOA =

2007 NOA =

(c) Compute 3M's RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2008. (Round your answers to two decimal places. Do not round until your final answer. Do not use NOPM x NOAT to calculate RNOA.)

2008 RNOA =

2008 NOPM =

2008 NOAT =

(d) Compute net nonoperating obligations (NNO) for 2008 and 2007.

2008 NNO =

2007 NNO =

(e) Compute return on equity (ROE) for 2008. (Round your answers to two decimal places. Do not round until your final answer.)Hint: Remember ROE is calculated attributable to controlling interest.

2008 ROE =

(f) What is the nonoperating return component of ROE for 2008? (Round your answers to two decimal places.)

2008 nonoperating return =