10-K for 3M. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in millions. a. Cash 2,353,00 X b. Short-term investments (or marketable securities) 98 X c. Accounts receivable 4,791 X d. Inventory 4,134 X e. Other current assets > f. Accounts payable g. Other current liabilities h. Cash flow from operations 891 X 2,228 X 3,056 X 44,659 X 2. The company projects the following to occur in the next fiscal year: Accounts payable will decrease by 2%. Other current liabilities are expected to decrease by 28%. Cash flow from operations is expected to increase by 10%. Assume all other items remain unchanged from the prior year. Chapter 8 Mini-Test-Open Book Assume all other items remain unchanged from the prior year Provide the next year's forecasted balances for the following accounts and cash flow from operations Round your answer to the nearest mon a. Cash b. Short-term investments (or marketable securities) c. Accounts receivable d. Inventory e. Other current assets f. Accounts payable 9. Other current abities h. Cash flow from operations 3. Compute the forecasted current ratio for the next fiscal year. Round your answer to two decimal place 4. Compute the forecasted quick ratio for the next fiscal year. Round your answer to two decimal places 5. Compute the forecasted cash ratio for the next fiscal year. Round your answer to two decimal places. Check My Work more Check My Work uning Assignment Score: 60% ab enc 1 Q A Os lock 80 888 @ 2 # =3 Z 14 All work 85 MacB W E R T S X D T H command control option 6 LL F G C V 6. Compute the forecasted operating cash flow ratio for the next fiscal year. Round your answer to two decimal places. Assets Current assets Cash and cash equivalents Marketable securities-current Accounts receivable net of allowances of $233 and $161 Inventories Finished goods Work in process Raw materials and supplies Total inventories Prepaids Other current assets Total current assets Property, plant and equipment Less: Accumulated depreciation Property, plant and equipment-net Operating lease right of use assets Goodwill Intangible assets-net Other assets 2020 2019 4,634 404 2,353 98 4,705 4,791 2,081 2,003 1,226 1,194) 932 937 4,239 4,134 675 704 325 891 14,982 12,971 26,650 26,124 (17,229) (16,791) 9,421 9,333 864 858 13,802 13,444 5,835 6,379 2,440 1,674 47,344 44,659 Total assets Liabilities Current liabilities Short-term borrowings and current portion of long-term debt 806 $ 2,795 Accounts payable 2,561 2,228 Accrued payroll 747 702 Accrued income taxes 300 194 Operating lease liabilities-current 256 247 Other current liabilities 3,278 3,056 Total current liabilities 7,948 9,222 Long-term debt Pension and postretirement benefits Operating lease liabilities 17,989 17,518 4,405 3,911 609 607 Pension and postretirement benefits Operating lease liabilities Other liabilities Total liabilities Commitments and contingencies (Note 16) Equity 3M Company shareholders' equity: Common stock par value, $.01 par value; 944,033,056 shares issued Shares outstanding - December 31, 2020: 577,749,638 Shares outstanding December 31, 2019: 575,184,835 Additional paid-in capital Retained earnings Treasury stock, at cost: Accumulated other comprehensive income (loss) Total 3M Company shareholders' equity Noncontrolling interest Total equity Total liabilities and equity The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. 17,989 4,405 609 17,518 3,911 607 3,462 34,413 3,275 34,533 9 6,162 5,907 43,761 42,135 (29,404) (29,849) (7,661) (8,139) 12,867 10,063 64 63 $ 12,931 $ 10,126 47,344 44,659 (Dollars in millions, except per share amounts) Balance at December 31, 2017 Net income Other comprehensive income (loss), net of tax Cumulative translation adjustment Defined benefit pension and post-retirement plans adjustment Cash flow hedging instruments unrealized gain (loss) Total other comprehensive income (loss), net of tax Transfer of ownership involving non-wholly owned subsidiaries Stock-based compensation Dividends declared ($5.44 per share, Note 8) Reacquired stock Issuances pursuant to stock option and benefit plans Balance at December 31, 2018 Impact of adoption of ASU No. 2018-02 Impact of adoption of ASU No. 2016-02 Common Stock and Additional 3M Company Shareholders Accumulated Other Comprehensive Non- Paid-in Retained Total Capital Earnings Treasury Stock Income controlling (Loss) Interest $ 11,622 S 5,361 $ 39,115 $ (25,887) S (7,026) S 59 5,363 5,349 14 (467) 444 176 (461) (6) 444 176 153 (3.193) - (3.193) 14 (15) 291 291 (4,888) 500 (649) (4,888) 1,149 9,848 S 5.652 $ 40,636 S (29,626) S (6,866) 52 853 (853) 14) 14 4,570 12 212 (1) (560) (72) Net income Other comprehensive income (loss), net of tax: Cumulative translation adjustment Defined benefit pension and post-retirement plans adjustment Cash flow hedging instruments - unrealized gain (loss) Total other comprehensive income (loss), net of tax Dividends declared ($5.76 per share, Note 8) Stock-based compensation Reacquired stock Issuances pursuant to stock option and benefit plans Balance at December 31, 2019 Net income Other comprehensive income (loss), net of tax: Defined benefit pension and post-retirement plans adjustment Cumulative translation adjustment Cash flow hedging instruments-unrealized gain (loss) Total other comprehensive income (loss), net of tax Purchase of non-controlling interest Dividends declared ($5.88 per share, Note 8) 4,582 211 Stock-based compensation (560) (72) (421) (3,316) 264 (3,316) 264 (1,381) 536 (622) (1,381) 1,158 $ 10,126 5,916 $ 42,135 S (29,849) S (8,139) S 63 5,388 5,384 447 171 (142) 449 (2) 171 (142) 476 (3,388) (3,388) (1) (1) 255 255 (358) (358) Defined benefit pension and post-retirement plans adjustment Cash flow hedging instruments-unrealized gain (loss) Total other comprehensive income (loss), net of tax Dividends declared ($5.88 per share, Note 8) Purchase of non-controlling interest Stock-based compensation Reacquired stock Issuances pursuant to stock option and benefit plans Balance at December 31, 2020 Supplemental share information Treasury stock Beginning balance Reacquired stock Issuances pursuant to stock options and benefit plans Ending balance 447 171 (142) 476 (3,388) (1,388) (1) 255 255 (358) 433 (370) (358) 803 $ 12,931 S 6,171 $43,761 (29,404) 449 (2) 171 (142) (1) (7,141) 64 2020 2019 2018 368,848,221 2,286,109 367,457,888 349,148,819 7575,647 23.526293 (4,850,912) (6.185.314) (5217224) 368,848,221 367-417 NWK 366,283,418 The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. (Millions) Cash Flows from Operating Activities Net income including noncontrolling interest WVETONINE TATTOg and learning resource from Cengage Learning 2020 Adjustments to reconcile net income including noncontrolling interest to net cash hitpallege.cengage.com/geyserdich 760357132002 2019 2018 5,388 S 4,582 S 5,363 provided by operating activities Depreciation and amortization Company pension and postretirement contributions Company pension and postretirement expense 1,911 1,593 1,488 (156) (210) (370) Loss on deconsolidation of Venezuelan subsidiary Stock-based compensation expense Gain on sale of businesses Deferred income taxes Changes in assets and liabilities Accounts receivable Inventories Accounts payable Accrued income taxes (current and long-term) Other -net Net cash provided by (used in) operating activities Cash Flows from Investing Activities Purchases of property, plant and equipment (PP&E) Proceeds from sale of PP&E and other assets. Acquisitions, net of cash acquired Purchases of marketable securities and investments Proceeds from maturities and sale of marketable securities and investments Proceeds from sale of businesses, net of cash sold Other net Net cash provided by (used in) investing activities Cash Flows from Financing Activities Change in short-term debt-net Renayment of debt (maturities greater than 90 days) 406 357 410 262 278 302 (389) (111) (545) (165) (273) (57) 162 165 345 (305) (91) 370 (509) 252 (117) 408 132 205 134 398 (111) 120 8,113 7,070 6,4391 (1,501) (1,699) (1,577) 128 123 262 (25) (4,984) 13 (1,579) (1,635) (1,828) 1,811 1,443 2,497 576 236 10 72 846 9 (580) (6,444) 222 (143) (316) (284) (3.4821 (2716) 1034) MacBook Pro Cash Flows from Investing Activities Purchases of property, plant and equipment (PP&E) Proceeds from sale of PP&E and other assets (1,501) (1,699) 128 123 (1,577) 262 Acquisitions, net of cash acquired (25) Purchases of marketable securities and investments (4,984) 13 (1,579) (1,635) (1,828) Proceeds from maturities and sale of marketable securities and investments 1,811 1,443 2,497 Proceeds from sale of businesses, net of cash sold 576 236 846 Other -net 10 72 9 Net cash provided by (used in) investing activities (580) (6,444) 222 Cash Flows from Financing Activities Change in short-term debt-net Repayment of debt (maturities greater than 90 days) Proceeds from debt (maturities greater than 90 days) Purchases of treasury stock Proceeds from issuance of treasury stock pursuant to stock option and benefit plans Dividends paid to shareholders Other -net Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year (143) (3,482) (316) (2,716) (284) (1,034) 1,750 6,281 2,251 (368) (1,407) 429 547 (3,388) (3,316) (4,870) 485 (3,193) (98) (197) (56) (5,300) (1,124) (6,701) 48 (2) (160) 2,281 (500) (200) 2,353 2,853 3,053 4,634 S 2,353 S 2,853 Cash and cash equivalents at end of period The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. 61