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Hi, I need a complete solution please show the required answer clearly. Direct Computation of Nonoperating Return Balance sheets and income statements for 3M Company

Hi, I need a complete solution please show the required answer clearly. Direct Computation of Nonoperating Return

Balance sheets and income statements for 3M Company follow.

3M COMPANY
Consolidated Statements of Income
For Years ended December 31 ($ millions) 2018 2017
Net sales $32,765 $31,657
Operating expenses
Cost of sales 16,682 16,055
Selling, general and administrative expenses 7,602 6,626
Research, development and related expenses 1,821 1,870
Gain on sale of businesses (547) (586)
Total operating expenses 25,558 23,965
Operating income 7,207 7,692
Other expense, net* 207 144
Income before income taxes 7,000 7,548
Provision for income taxes 1,637 2,679
Net income including noncontrolling interest 5,363 4,869
Less: Net income attributable to noncontrolling interest 14 11
Net income attributable to 3M $5,349 $4,858
*Interest expense, gross $350 $322

3M COMPANY
Consolidated Balance Sheets
At December 31 ($ millions, except per share amount) 2018 2017
Current Assets
Cash and cash equivalents $2,853 $3,053
Marketable securities 380 1,076
Accounts receivable 5,020 4,911
Total inventories 4,366 4,034
Prepaids 741 937
Other current assets 349 266
Total current assets 13,709 14,277
Property, plant and equipment-net 8,738 8,866
Goodwill 10,051 10,513
Intangible assets-net 2,657 2,936
Other assets 1,345 1,395
Total assets $36,500 $37,987
Current liabilities
Short-term borrowings and current portion of long-term debt $1,211 $1,853
Accounts payable 2,266 1,945
Accrued payroll 749 870
Accrued income taxes 243 310
Other current liabilities 2,775 2,709
Total current liabilities 7,244 7,687
Long-term debt 13,411 12,096
Pension and postretirement benefits 2,987 3,620
Other liabilities 3,010 2,962
Total liabilities 26,652 26,365
3M Company shareholders' equity
Common stock, par value 9 9
Additional paid-in capital 5,643 5,352
Retained earnings 40,636 39,115
Treasury stock (29,626) (25,887)
Accumulated other comprehensive income (loss) (6,866) (7,026)
Total 3M Company shareholders' equity 9,796 11,563
Noncontrolling interest 52 59
Total equity 9,848 11,622
Total liabilities and equity $36,500 $37,987
Combined federal and state statutory tax rate 22.00%
ROE 50.09%
RNOA 25.89%

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a. Compute net nonoperating expense (NNE) and net operating profit after tax (NOPAT). Assume a tax rate of 22%. b. Compute net nonoperating obligations (NNO). c. Compute financial leverage (FLEV). d. Compute NNEP and Spread. e. Compute the noncontrolling interest ratio ( NCl ratio). f. Confirm the relation: ROE=[RNOA+( FLEV Spread )]NCI ratio. ROE mav be different due to rounding

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