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Balance sheets and income statements for 3M Company follow. \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ 3M COMPANY } & & \\ \hline \multicolumn{1}{|c|}{ Consolidated Statements of Income } & & \\ \hline For Years ended December 31 (\$ millions) & 2018 & 2017 \\ \hline Net sales & $14,810 & $14,309 \\ \hline Operating expenses & & \\ \hline Cost of sales & 7,540 & 7,257 \\ \hline Selling, general and administrative expenses & 3,436 & 2,995 \\ \hline Research, development and related expenses & 1,821 & 1,870 \\ \hline Gain on sale of businesses & (547) & (586) \\ \hline Total operating expenses & 12,250 & 11,536 \\ \hline Operating income & 2,560 & 2,773 \\ \hline Other expense, net & 94 & 65 \\ \hline Income before income taxes & 2,466 & 2,708 \\ \hline Provision for income taxes & 740 & 1,211 \\ \hline Net income including noncontrolling interest & 1,726 & 1,497 \\ \hline Less: Net income attributable to noncontrolling interest & 14 & 11 \\ \hline Net income attributable to 3M & $1,712 & $1,486 \\ \hline \hline *Interest expense, gross & $350 & $322 \\ \hline \end{tabular} b. Compute net operating assets (NOA) for 2018 and 2017. c. Compute and disaggregate 3M's RNOA into net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2018 . Demonstrate that RNOA = NOPM NOAT. RNOA may be different from first RNOA calculation due to rounding d. Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOA = NNO + Total equity e. Compute return on equity (ROE) for 2018. f. What is the nonoperating return component of ROE for 2018

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