Question: P2-46. Construct and Analyze Balance Sheet Amounts from Incomplete Data L01 Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products,
P2-46. Construct and Analyze Balance Sheet Amounts from Incomplete Data L01 Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, 3M COMPANY for three recent years follow.
Long- Long-
Current Term Total Current Term Total Stockholders'
$millions Assets Assets Assets Liabilities Liabilities Liabilities Equity*
2018 ... .. $13,709 $ ? $36,500 $ ? $19,408 $26,652 $ 9,848 2017 ... .. 14,277 23,710 ? 7,687 18,678 ? 11,622 2016 ..... ? 21 ,180 32,906 6,219 16,344 22,563 ?
• Includes noncontrolling interest Required
a. Compute the miss ing balance sheet amounts for each of the three years shown.
b. Which of the following would not be included among 3M's current assets? Select all that apply.
1. Cash and cash equivalents 4. Accounts payable 7. Accrued expenses 2. Property plant & equipment 5. Marketable securities 8. Prepaid expenses 3. Inventory 6. Goodwill
c. Which of the following would be included among 3M's long-term assets? Select all that apply.
1. Property plant & equipment 4. Work in process 7. Prepaid expenses 2. Accounts payable 5. Goodwill 8. Long-term notes payable 3. Intangible assets 6. Accrued expenses
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