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Please help with this problem. Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. Consolidated Statements of Income Years ended

Please help with this problem.

Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow.

Consolidated Statements of Income
Years ended December 31 ($ millions) 2008 2007 2006
Net sales $25,269 $24,462 $22,923
Operating expenses
Cost of sales 13,379 12,735 11,713
Selling, general and administrative expenses 5,245 5,015 5,066
Research, development and related expenses 1,404 1,368 1,522
Loss/(gain) from sale of business 23 (849) (1,074)
Total operating expenses 20,051 18,269 17,227
Operating income 5,218 6,193 5,969
Interest expenses and income
Interest expense 215 210 122
Interest income (105) (132) (51)
Total interest expense 110 78 71
Income before income taxes 5,108 6,115 5,625
Provision for income taxes 1,588 1,964 1,723
Net income including noncontrolling interest 3,520 4,151 3,902
Less: Net income attributable to noncontrolling interest 60 55 51
Net income $ 3,460 $ 4,096 $ 3,851

Consolidated Balance Sheets
($ millions) 2008 2007
Assets
Current Assets
Cash and cash equivalents $ 1,849 $ 1,896
Marketable securities-current 373 579
Accounts receivable-net 3,195 3,362
Inventories
Finished goods 1,505 1,349
Work in process 851 880
Raw materials and supplies 657 623
Total inventories 3,013 2,852
Other current assets 1,168 1,149
Total current assets 9,598 9,838
Marketable securities-noncurrent 352 480
Investments 111 298
Property, plant and equipment 18,812 18,390
Less: Accumulated depreciation (11,926) (11,808)
Property, plant and equipment-net 6,886 6,582
Goodwill 5,753 4,589
Intangible assets-net 1,398 801
Prepaid pension benefits 36 1,378
Other assets 1,659 728
Total assets $ 25,793 $ 24,694
Liabilities
Current liabilities
Short-term borrowings and current portion of long-term debt $ 1,552 $ 901
Accounts payable 1,301 1,505
Accrued payroll 644 580
Accrued income taxes 350 543
Other current liabilities 1,992 1,833
Total current liabilities 5,839 5,362
Long-term debt 5,166 4,019
Pension and postretirement benefits 2,847 --
Other liabilities 1,637 3,566
Total liabilities 15,489 12,947
Equity
3M Company shareholders' equity 9 9
Additional paid-in capital 3,006 2,785
Retained earnings 22,227 20,316
Treasury stock (11,676) (10,520)
Accumulated other comprehensive income (loss) (3,686) (843)
Total 3M Company shareholders' equity 9,880 11,747
Noncontrolling interest 424 --
Total equity 10,304 11,747
Total liabilities and equity $ 25,793 $ 24,694

(a) Compute net operating profit after tax (NOPAT) for 2008. Assume that the combined federal and statutory rate is: 35.9% (Round your answer to the nearest whole number.) 2008 NOPAT =Answer

($ millions) (b) Compute net operating assets (NOA) for 2008 and 2007. Treat noncurrent Investments as a nonoperating item. 2008 NOA =Answer($ millions) 2007 NOA =Answer($ millions) (c) Compute 3M's RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2008. (Round your answers to two decimal places. Do not round until your final answer. Do not use NOPM x NOAT to calculate RNOA.) 2008 RNOA =Answer% 2008 NOPM =Answer% 2008 NOAT =Answer (d) Compute net nonoperating obligations (NNO) for 2008 and 2007. 2008 NNO =Answer($ millions) 2007 NNO =Answer($ millions) (e) Compute return on equity (ROE) for 2008. (Round your answers to two decimal places. Do not round until your final answer.) 2008 ROE =Answer% (f) What is the nonoperating return component of ROE for 2008? (Round your answers to two decimal places.) 2008 nonoperating return =Answer%

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