Following is the income statement for 3M Company

Compute net operating profit after tax (NOPAT) for 2005, assuming a federal and state statutory tax rate of 36.3%. HINT: Other expense is an operating item for 3M.

$3,289 million

$3,315 million

$3,306 million

$5,009 million

Income statement Year Ended December 31 (millions) 2005 2004 2003 $21,167 $20,011 $18,282 10,381 4,595 1,242 9,958 4,281 1,194 9,285 3,994 1,147 16,158 5,009 15,433 4,578 14,519 3,713 Net sales..... Operating expenses Cost of sales..... Bellng. general and administrative expenses Research, development and related expenses Other expenso .... Total Operating Income Interest expense and Income Interest expense.... Interest Income. Total ..... Income before Income tales, minority Interest and cumulative effect of accounting change Provision for hoome taxes... Minority Interest..... Income before cumulative effect of accounting change .... Cumulative effect of accounting change... Net Income. 82 69 (45) 84 (28) 58 28 4,555 1,500 4,983 1,694 55 3,234 (85) $ 3,199 3,657 1,202 52 2,403 2,990 $ 2,980 $ 2,403