Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show work. Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. Consolidated Statements of Income Years ended December 31

Please show work.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. Consolidated Statements of Income Years ended December 31 (S millions) 2012 2011 2010 Net sales Operating expenses Cost of sales Selling, general and administrative expenses Research, development and related expenses $29,904 29,611 $226,662 15,685 15,693 13,831 6,102 6,1705,479 ,634 1,570 1434 23,421 23,433 20,744 Total operating expenses Operating income Interest expenses and income Interest expense Interest income 6,483 6,1785,918 186 (39) 147 201 (38) 163 6,351 6,031 5,755 1,592 4,511 $4,357 $4,163 78 $4,444 4,283 4,085 (39) 132 Total interest expense-net Income before income taxes Provision for income taxes Net income including noncontrolling interest Less: Net income attributable to noncontrolling interest Net income attributable to 3M 1,840 1,674 67 74

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

=+ (b) Shows that Q agrees with P on Fo.

Answered: 1 week ago

Question

a. When did your ancestors come to the United States?

Answered: 1 week ago

Question

d. What language(s) did they speak?

Answered: 1 week ago

Question

e. What difficulties did they encounter?

Answered: 1 week ago