Download 3M Co. 10K for 2017 (that is, they year ended December 31, 2017).

Create a professional document based on required questions below. This document must include:

– A title page

– 2-3 page in-depth analysis (MAX)

– 2 pages of calculations

– APA format bibliography

a. What is the nature of 3M's business? That is, based on what you know about the company and on the accompanying financial statement, how does 3M make money?

b. What financial statements are commonly prepared for external reporting purposes? What titles does 3M give these statements? What does "consolidated" mean?

c. How often do publicly traded corporations typically prepare financial statements for external reporting purposes?

d. Who is responsible for the financial statements? Discuss the potential users of the 3M's financial statements and the type of information they are likely interested in.

e. Who are 3M's external auditors? Describe the "opinion" letter that 3M received in 2017. In your own words, what do these opinion mean? Why is the opinion dated several months after 3M's year-end?

f. Use a spreadsheet to construct common-size income statement (which 3M calls consolidated statement of income) and balance sheets for 2017 and 2016. Common-size income statements scale each income statement line item by total net revenues (sales). Common-size balance sheets are created by dividing each figure on a given year's balance sheet by that year's total assets, thereby creating a balance sheet on a "percent of assets" basis.

g. What are 3M's major assets? Calculate the proportion of short-term and long-term assets for 2017. Does this seem appropriate for a company such as 3M?

h. In general what are intangible assets? What is goodwill? What specific intangible assets might 3M have?

i. How much in dividends did 3M pay to their shareholders in 2017 and 2016?