question archive 3M Company had the net income of $4,570 million, taxes of $1,130 million, and the interest expense of $368 million in 2019
3M Company had the net income of $4,570 million, taxes of $1,130 million, and the interest expense of $368 million in 2019
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3M Company had the net income of $4,570 million, taxes of $1,130 million, and the interest expense of $368 million in 2019. Its total assets are $44,659 million and total equities are $10,126 million in 2019.
a. Compute its Return on Equity (ROE) in 2019.
b. Compute its Return on Assets (ROA) in 2019.
c. If the industry average ROE is 8.98% and the industry average ROA is 3.92%, how did 3M Company perform in terms of ROE and ROA when compared to the industry averages?
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