P4-41. Analysis and Interpretation of Profitability 04, 5, 6, Balance sheets and income statements for 3M Company follow 3M Compan 3M COMPANY Consolidated Statements of Income ME For Years Ended Dec. 31 (S millions) 2014 2013 $31,821 $30,871 Operating expenses Cost of sales. Selling, general and administrative expenses . . Research, development and related expenses . .. . .. .. 15,383 6,182 1763 23,328 6,946 16,447 6,469 1,770 24,686 7135 6,384 . . .. 24,205 6,666 Interest expense and income Interest expense.. 149 26 123 145 6,562 7,026 2,028 04,998 1,982 Net income including noncontrolling interest... .. . . . . ..4,841 Less: Net income attributable to noncontrolling interest $04,956 $04,659 3M COMPANY Consolidated Balance Sheets At December 31 ($ millions, except per share amount) 2015 2014 Current assets 1,897 1,439 4,238 $01,798 Inventories Finished goods 1,655 1,008 855 1,723 1,081 3,706 1,023 12,303 15 102 22,841 4,583)(14.352) 8,489 7,050 1,435 3,518 1,398 10,986 23,098 Less: Accumulated depreciation 2,601 Prepaid pension benefits.. 1,053 $32,718 1,769 $31,209 con