Balance sheets and income statements for 3M Company follow. 3M COMPANY Consolidated Statements of Income For Years ended December 31 ($ millions)20182017 Net sales$32,765$31,657 Operating expenses Cost of sales16,68216,055 Selling, general and administrative expenses7,6026,626 Research, development and related expenses1,8211,870 Gain on sale of businesses(547)(586) Total operating expenses25,55823,965 Operating income7,2077,692 Other expense, net*207144 Income before income taxes7,0007,548 Provision for income taxes1,6372,679 Net income including noncontrolling interest5,3634,869 Less: Net income attributable to noncontrolling interest1411 Net income attributable to 3M$5,349$4,858 *Interest expense, gross$350$322 3M COMPANY Consolidated Balance Sheets At December 31 ($ millions, except per share amount)20182017 Current Assets Cash and cash equivalents$2,853$3,053 Marketable securities3801,076 Accounts receivable5,0204,911 Total inventories4,3664,034 Prepaids741937 Other current assets349266 Total current assets13,70914,277 Property, plant and equipment-net8,7388,866 Goodwill10,05110,513 Intangible assets-net2,6572,936 Other assets1,3451,395 Total assets$36,500$37,987 Current liabilities Short-term borrowings and current portion of long-term debt$1,211$1,853 Accounts payable2,2661,945 Accrued payroll749870 Accrued income taxes243310 Other current liabilities2,7752,709 Total current liabilities7,2447,687 Long-term debt13,41112,096 Pension and postretirement benefits2,9873,620 Other liabilities3,0102,962 Total liabilities26,65226,365 3M Company shareholders' equity Common stock, par value99 Additional paid-in capital5,6435,352 Retained earnings40,63639,115 Treasury stock(29,626)(25,887) Accumulated other comprehensive income (loss)(6,866)(7,026) Total 3M Company shareholders' equity9,79611,563 Noncontrolling interest5259 Total equity9,84811,622 Total liabilities and equity$36,500$37,987 Combined federal and state