Nucor Corporation produces steel and steel products at its eight mills and is a major recycler of scrap metal. The following data relate to Nucor for four years. In 2017, Nucor's net Income was higher by $175.2 million because of a one-time effect of the Tax Cuts and Jobs Act. Nucor Corporation ($ in millions) Total assets Common stockholders' equity Total debt Sales Net Income Interest expense Assumed marginal income tax rate 2015 $14,327.0 7,849.9 4.388.5 2016 $15,223.5 8,254.7 4,357.1 16,208.1 900.4 169.2 0.37 2017 $15,841.5 9,084.8 3,795.1 20,252.4 1,380.6 173.6 0.37 2018 $17,920.6 10, 202.0 4,291.1 25,067.3 2,481.1 135.5 0.23 Source: Nucor Form 10-Ks for 2015-2018 Required: In the following analyses, eliminate the one-time net Income effect of the Tax Cuts and Jobs Act on 2017's results. 1. Calculate Nucor's ROA for 2016, 2017 and 2018, 2. Decompose ROA into operating profit margin and asset turnover components. 3. Has Nucor's profitability changed over the three years? 4. Calculate the rate of return on common stockholders' equity for 2016, 2017 and 2018 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Calculate Nucor's ROA for 2016, 2017, and 2018. (Do not round intermediate calculations. Round your answers to 2 decimal places) ROA 2016 6.91 2017 0.10 % 2018 20.00 % Required 2 > Nucor Corporation produces steel and steel products at its eight mills and is a major recycler of scrap metal. The following data relate to Nucor for four years. In 2017, Nucor's net income was higher by $175.2 million because of a one-time effect of the Tax Cuts and Jobs Act Nucor Corporation (s in millions) Total assets Common stockholders' equity Total debt Sales Net income Interest expense Assumed marginal income tax rate 2015 $14,327.0 7,849.9 4,388.5 2016 $15,223.5 8,254.7 4,357.1 16,208.1 900.4 169.2 0.37 2017 $15,841.3 9,084.8 3,795.1 20,252.4 1,380.6 173.6 0:37 2018 $17,920.6 10,202.0 4,291.1 25,067.3 2,481.1 135.5 0.23 Source: Nucor Form 10-Ks for 2015-2018, Required: In the following analyses, eliminate the one-time net income effect of the Tax Cuts and Jobs Act on 2017's results. 1. Calculate Nucor's ROA for 2016, 2017, and 2018, 2. Decompose ROA into operating profit margin and asset turnover components. 3. Has Nucor's profitability changed over the three years? 4. Calculate the rate of return on common stockholders' equity for 2016, 2017 and 2018. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Decompose ROA into operating profit margin and asset turnover components. (Do not rourid intermediate calculations. Round your answers to 2 decimal places.) Operating profit margin Alurover 2016 5.55 % 100 2017 6.82% 130 2018 9.90 % 148
