Question
3 5 pts Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M Company Balance Sheets (partial)
3 5 pts Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M Company Balance Sheets (partial) Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities 2020 2019 $ 3,040 $1,849 3,250 3,195 2,639 3,013 1,866 1,541 $10,795 $9,598 $ 4,897 $5,839 a. Calculate the current ratio and working capital for 3M for 2019 and 2020. b. Suppose that at the end of 2020, 3M management used $200 million cash to pay off $200 million of accounts payable. How would its current ratio and working capital have changed? IUA A XEE HB x 4 WP A T 12pt 4 HTML Editor Paragraph
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