Question
Hi, I need some help with the below exercise. I can't seem to get the correct NOPAT to start. It should be operating income x
Hi, I need some help with the below exercise. I can't seem to get the correct NOPAT to start. It should be operating income x (1-tax rate) but that keeps coming up as incorrect.
2015 2014 2013
Net Sales $30,274 $31,821 $30,871
Operating expenses 0.151203717
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 8 42 62
Net income attributable to 3M $4,833 $4,956 $4,659
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started