(b) Suppose that at the end of 2020, 3M management used $150 million cash to pay off $150 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, eg. 125:1.) :1 Current ratio Working capital $ million e Textbook and Media Saw for Later Attempts: unlimited Submit Answer Your grade has been recorded in the Gradebook Tue May 12 2020 10:52:36 PM Amca/Los Angeles -07:00) Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M Company Balance Sheets (partial) 2020 2019 Current assets Cash and cash equivalents Accounts receivable, net $3,000 $1,800 3.000 3,000 Inventories 2,603 3,000 Other current assets 1.800 1,500 Total current assets $10,403 $9,300 Current liabilities $4,890 $5,803 1 (a) Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, eg. 1.25: 1.) Current ratio 160 2019 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, eg. 1.25:1) Current ratio 2019 1.60 :1 2020 2.12 1 Working capital 2019 $ 3497 million 2020 $ 5513 million (b) Suppose that at the end of 2020.3M management used $150 million cash to pay off $150 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25:1.) Current ratio million Working capital $