a. compute the receivables, inventory, and PPE turnover ratios for both 2018 and 2017. b. what changes are evident in the turnover rates of 3M for these years? Discuss ways in which a company such as 3M can improve its turnover within each of these three areas

Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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a. compute the receivables, inventory, and PPE turnover ratios for both 2018 and 2017.
b. what changes are evident in the turnover rates of 3M for these years? Discuss ways in which a company such as 3M can improve its turnover within each of these three areas

($ millions)
Sales
Cost of Sales
Receivables
Inventories
PPE, net
$32,765
$16,682
$4,366
$5,020
4,911
$8,738
8,866
8,516
2018.
..... ...
2017.
31,657
16,055
4,034
2016..
30,109
15,118
4,392
3,385
Transcribed Image Text:($ millions) Sales Cost of Sales Receivables Inventories PPE, net $32,765 $16,682 $4,366 $5,020 4,911 $8,738 8,866 8,516 2018. ..... ... 2017. 31,657 16,055 4,034 2016.. 30,109 15,118 4,392 3,385
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