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STRYKER CORPORATION Consolidated Balance Sheets $ millions Dec. 31, 2018 a. Use ROE and RNOA to determine the nonoperating return. ROE (from Review 1) 32.73%

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STRYKER CORPORATION Consolidated Balance Sheets $ millions Dec. 31, 2018 a. Use ROE and RNOA to determine the nonoperating return. ROE (from Review 1) 32.73% RNOA (from Review 6) 22.62% Nonoperating return = ROE-RNOA = 10.11% b. Compute FLEV 1000 c. Compute NNEP d. Determine Spread as RNOA - NNEP e. Demonstrate that ROE = RNOA + (Spread ~ FLEV) ROE = RNOA = Spread = FLEV= ROE calculated=

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