Use the information below for 2018 for 3M Company to answer the requirements ($ millions) 2018...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the information below for 2018 for 3M Company to answer the requirements ($ millions) 2018 2017 Sales Net income, consolidated Net income attributable to 3M shareholders Pretax interest expense Assets Total equity Equity attributable to 3M shareholders $24,115 3,947 3,937 152 26,864 $27,958 7,248 8,554 7,210 8,510 d. Compute adjusted ROA (assume a statutory tax rate of 22% and pretax net interest expense of $152). Note: Perform this computation from a consolidated perspective. Use the information below for 2018 for 3M Company to answer the requirements ($ millions) 2018 2017 Sales Net income, consolidated Net income attributable to 3M shareholders Pretax interest expense Assets Total equity Equity attributable to 3M shareholders $24,115 3,947 3,937 152 26,864 $27,958 7,248 8,554 7,210 8,510 d. Compute adjusted ROA (assume a statutory tax rate of 22% and pretax net interest expense of $152). Note: Perform this computation from a consolidated perspective.
Expert Answer:
Answer rating: 100% (QA)
To compute the adjusted ROA we need to adjust the net income ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Use the information below from Caterpillars income statement and balance sheet to answer these questions: 1. Compute the companys 2004 average collection period for Sales of Machinery and Engines....
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
A company has the following results for the three years to 31 October 2020: Assuming that all possible claims are made to relieve the trading loss against total profits, calculate the company's...
-
A drying oven consists of a long semicircular duct of diameter D = 1 m. Materials to be dried cover the base of the oven while the wall is maintained at 1200 K. What is the drying rate per unit...
-
Does your college or university have any international programs? Does this make the institution an international business? Why or why not?
-
Trane Comfort Specialists, Inc., reported the following stockholders' equity on its balance sheet at June \(30,2008\). Requirements 1. Identify the different issues of stock that Trane has...
-
TAN Company has a defined benefit pension plan for its employees. The plan has been in existence for several years. During 2015, for the first time, TAN experienced a difference between its expected...
-
The local school district was planning to build a new high school. The estimated cost of the building was around $100M. To finance the building the school district needed to issue a bond for about...
-
For the frame in Figure P5.47, draw the shear and moment curves for all members. Next sketch the deflected shape of the frame. Show all forces acting on a free-body diagram of joint \(C\). T 6' 20...
-
A hospital has 100 beds in 50 semiprivate rooms. Average occupancy over the past several years has been 70%. Determine the number of projected encounters using the 70% occupancy factor. Determine the...
-
Altoona Company began the year with 3 0 0 , 0 0 0 shares of $ 4 par common stock. On May 1 , they issued 1 5 0 , 0 0 0 shares. On July 1 , they issued 2 5 , 0 0 0 shares. On September 1 , Altoona...
-
What is the impact of worksheets on creativity? What is the impact of the subject of ecology in early childhood classrooms? What is the impact of student/teacher relationships on creativity? 2....
-
Discuss the balance between virtual and face-to-face interactions. Briefly touch on potential future trends in interpersonal communication. Summarize the key points discussed in the presentation.
-
Swede Hotel had net income for 2 0 2 0 of $ 1 8 9 , 4 0 0 . Included in net income was depreciation of $ 3 , 1 0 0 , a gain on sale of land of $ 5 , 2 0 0 , loss on sale of equipment of $ 8 , 3 0 0...
-
Karl Stick is president of Stock Company. He also owns 1 0 0 percent of its stock. Karl s salary is $ 2 30 , 0 0 0 . At the end of the year, Karl was paid a bonus of $ 50 0 , 0 0 0 because the firm...
-
What is the output of the following program? import java.util.Date; public class Test { public static void main(String[] args) { Date date = new Date(1234567); m1(date); System.out.print...
-
Identify the Critical Infrastructure Physical Protection System Plan.
-
Signal Enterprises decided to issue $900,000 of 10-year bonds. The interest rate on the bonds is stated at 7%, payable semiannually. At the time the bonds were sold, the market rate had increased to...
-
Quality Enterprises Inc. issued its 2007 financial statements on February 22, 2008. The auditors expressed a clean opinion in the audit report. On July 14, 2008, the company filed for bankruptcy as a...
-
Bad Debts and the Direct Method Prepare the Operating Activities section of the statement of cash flows using the directmethod. Ending Beginning Balances Balances $12,000 2,500 Accounts receivable...
-
Recording effects of transactions in T-accounts Record the transactions below for Amena Company by recording debit and credit amounts directly in the following T-accounts: Cash; Accounts Receivable;...
-
Identifying type and normal balances of accounts For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) enter debit (Dr.) or credit (Cr.)...
-
Preparing a trial balance After recording the transactions of Exercise 3-2 in T-accounts and calculating the ending balance of each account, prepare a trial balance. Use May 31, 2008, as its report...
Study smarter with the SolutionInn App