N2. Nucor Corporation produces steel and steel products at its eight mills and is a major recycler of scrap metal. The followingdata relate to Nucor for four years. In 2017, Nucor's net income was higher by $175.2 million because of a one-time effectof the Tax Cuts and Jobs Act.Nucor Corporation($ in millions)Total assetsCommon stockholders' equityTotal debtSalesNet incomeInterest expenseAssumed marginal income tax rate2015 2016$14,327.07,849.94,388.52017 2018$15,223.58,254.74,357.116,208.1900.4169.20.37$ 15,841.3 $ 17,920.69,084.810,202.03,795.120,252.41,380.6173.60.374,291.11. Calculate Nucor's ROA for 2016, 2017, and 2018.2. Decompose ROA into operating profit margin and asset turnover components.3. Has Nucor's profitability changed over the three years?4. Calculate the rate of return on common stockholders' equity for 2016, 2017, and 2018.25,067.32,481.1135.50.23Source: Nucor Form 10-Ks for 2015-2018.Required:In the following analyses, eliminate the one-time net income effect of the Tax Cuts and Jobs Act on 2017's results.

Return on assets represents the percentage of how profitable a company's assets are in generating…

Nucor Corporation produces steel and steel products at its eight mills and is a major recycler of scrap metal. The following data relate to Nucor for four years. In 2017, Nucor's net income was higher by $175.2 million because of a one-time effect of the Tax Cuts and Jobs Act. Nucor Corporation ($ in millions) Total assets Common stockholders' equity Total debt Sales Net income Interest expense Assumed marginal income tax rate 2015 2016 $ 14,327.0 7,849.9 4,388.5 2017 2018 $ 15,223.5 $ 15,841.3 $ 17,920.6 8,254.7 9,084.8 10,202.0 4,357.1 3,795.1 4,291.1 16,208.1 900.4 169.2 0.37 20,252.4 1,380.6 173.6 0.37 25,067.3 2,481.1 1. Calculate Nucor's ROA for 2016, 2017, and 2018. 2. Decompose ROA into operating profit margin and asset turnover components. 3. Has Nucor's profitability changed over the three years? 4. Calculate the rate of return on common stockholders' equity for 2016, 2017, and 2018. 135.5 0.23 Source: Nucor Form 10-Ks for 2015-2018. Required: In the following analyses, eliminate the one-time net income effect of the Tax Cuts and Jobs Act on 2017's results.