Question: Projecting NOPAT and NOA Using Parsimonious Forecasting Method Following are 3M's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its

Projecting NOPAT and NOA Using Parsimonious Forecasting Method Following are 3M's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its fiscal year ended 2010 ($millions).

Sales $26,662
Net operating profit after tax (NOPAT) 4,266
Net operating assets (NOA) 16,305

Forecast 3M's sales, NOPAT and NOA for fiscal years 2011 through 2014 using the following assumptions:

Sales growth per year 15.0%
Net operating profit margin (NOPM) 16.0%
Net operating assets turnover (NOAT), based on NOA at 2010 fiscal year-end 1.60

($ millions) 2010 2011 Est. 2012 Est. 2013 Est. 2014 Est.
Sales (rounded two decimal places) $26,662.00 Answer Answer Answer Answer
Sales (rounded nearest whole number) $26,662 Answer Answer Answer Answer
NOPAT (rounded nearest whole number)* $4,266 Answer Answer Answer Answer
NOA (rounded nearest whole number)* $16,305 Answer Answer Answer Answer

*Use Sales - rounded nearest whole number to calculate NOPAT and NOA.

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