Following is the balance sheet for 3M Company. Prepare common-size balance sheets for 2017 and 2016. 3M
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Following is the balance sheet for 3M Company. Prepare common-size balance sheets for 2017 and 2016.
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3M COMPANY AND SUBSIDIARIES December 31 ($ millions) 2017 2016 Assets Cash, cash equivalents and marketable securities $ 4,129 $ 2,678 Accounts receivable-net of allowances of $103 and $88. 4,911 4,392 Total inventories... 4,034 3,385 Prepaids.... Other current assets.. 937 821 266 450 Total current assets... Property, plant and equipment-net. Goodwill .... Intangible assets-net Other assets... 14,277 11,726 8,866 8,516 10.513 9,166 2.936 2,320 1,178 ..... 1,395 Total assets $37,987 $32,906 Liabilities and Shareholders' Equity Current liabilities Short-term borrowings and current portion of long-term debt.... Accounts payable... Accrued payroll. . $ 1.853 972 1,945 1,798 870 678 Accrued income taxes 310 299 Other current liabilities 2,709 2,472 Total current liabilities. Long-term debt...... Pension and postretirement benefits Other liabilities.. 7,687 6,219 10,678 12,096 3,620 4,018 2,962 1,648 Total liabilities .. Total equity... $26,365 $11.622 $22,563 $10,343 ... Total liabilities and equity..... $37,987 $32,906
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Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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