ctice Assignment Gradebook ORION Downloadable efextbook ment CALCULATOR FULL SCREEN PRINTER VERSI Suppose 3M Company reported the following financial data for 2017 and 2016 (in millions) 3M COMPANY Balance Sheet (partial) 2017 2016 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets $3,030 $1,880 3,180 2,880 1,530 $10,420 $9,470 $5,002$5,777 3,080 2,580 1,730 Current liabilities Calculate the current ratio for 3M for 2017 and 2016. (Round answers to 2 decimal places, e.g. 1.25:1) 2017 2016 Current ratio Suppose that at the end of 2017, 3M management used $330 million cash to pay off $330 million of accounts payable. How woul (Round answer to 2 decimal places, e.g. 1.25:1) Current ratio