Exercise 10-18 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 Inventories Other current assets Total current assets $ 3,012 3,080 2,606 1,874 $10,572 $ 4,932 $1,812 3,045 3,024 1,524 $9,405 $5,878 Current liabilities Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1.) Current ratio 2019 2020 Working capital 2019 million $ 2020 million (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? (Round current ratio to 2 decimal places, e.g. 1.25 : 1.) Current ratio 11 Working capital million S