Direct Computation of Nonoperating Return Balance sheets and income statements for 3M Company follow. a....
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Accounting
Direct Computation of Nonoperating Return Balance sheets and income statements for 3M Company follow. a. Compute net nonoperating expense (NNE) and net operating profit after tax (NOPAT). Assume a tax rate of 22%. b. Compute net nonoperating obligations (NNO). c. Compute financial leverage (FLEV). d. Compute NNEP and Spread. e. Compute the noncontrolling interest ratio ( NCl ratio). f. Confirm the relation: ROE=[RNOA+( FLEV Spread )]NCl ratio. *** ROE may be different due to rounding
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