Suppose 3M Company reported the following financial data for 2025 and 2024 (in millions). Instructions a. Calculate

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Suppose 3M Company reported the following financial data for 2025 and 2024 (in millions).

Instructionsa. Calculate the current ratio for 3M for 2025 and 2024.b. Suppose that at the end of 2025, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratio change?

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Accounting Tools For Business Decision Making

ISBN: 9781119791058

8th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell

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Question Posted: Jun 22, 2023 07:46 AM

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Suppose 3M Company reported the following financial data for 2025 and 2024 (in millions). Instructions a. Calculate

Question:

Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities 3M Company Balance Sheet (partial) 2025 $ 3,040 3,250 2,639 1,866 $10,795 $ 4,897 2024 $1,849 3,195 3,013 1,541 $9,598 $5,839

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a Current ratio 202510795 4897 22...View the full answer

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