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Disaggregating Return on Assets over Multiple Periods Following are selected financial statement data from 3M Company for 2015 through 2018. a. What was 3M Company's
Disaggregating Return on Assets over Multiple Periods Following are selected financial statement data from 3M Company for 2015 through 2018. a. What was 3M Company's return on assets (ROA) for 2016, 2017, and 2018 ? Round answers to one decimal place (ex: 0.2345=23.5% ). b. Determine profit margin (PM) for each of the three years 2016-2018. Round answers to one decimal place (ex: 0.2345=23.5%). c. Determine asset turnover (AT) for each of the three years 2016-2018. Round answers to two decimal places. d. What factor is mainly responsible for the change in 3M's ROA from 2016 to 2017 ? Is it profit margin or asset turnover or both? e. What factor is mainly responsible for the change in 3M's ROA from 2017 to 2018 ? Is it profit margin or asset turnover or both
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