Computing and Analyzing Liquidity and Solvency Ratios Selected income statement and balance sheet information follows for the 3M Company for the year ended December 31. 3M Company $ millions Income statement information: Current Year Prior Year Interest expense $745 $710 Income before interest and taxes 40,795 41,905 Balance sheet information: Cash Marketable securities Accounts receivable Current assets Current liabilities Total assets Total liabilities 8,990 9,485 590 7,195 21,225 21,660 54,930 61,515 30,299 25,387 163,590 156,045 89,267 76,906 74,323 79,139 Total stockholders' equity a. Compute the following ratios for both the current year and the prior year ended December 31. 1. Current ratio 2. Quick ratio 3. Total liabilities-to-equity 4. Times interest earned Current Year Ratio Numerator Denominator Result Current ratio $ 0 $ 0 = Quick ratio $ 0 $ 0 = Total liabilities-to-equity $ 0 $ 0 = Times interest earned $ 0 $ 0 Prior Year Ratio Numerator Denominator Result Current ratio $ 0 $ 0 = Quick ratio $ 0+ $ 0 = Total liabilities-to-equity $ 0+ $ 0 = Times interest earned $ 0 + $ 0 =