Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 10-7 (Part Level Submission) The following financial data were reported by 3M Company for 2009 and 2010 (dollars in millions) 3M Company Balance Sheets
Exercise 10-7 (Part Level Submission) The following financial data were reported by 3M Company for 2009 and 2010 (dollars in millions) 3M Company Balance Sheets (partial) 2010 2009 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets 3,377 3,615 3,155 2,068 $12,215 6,089 3,040 3,250 2,639 1,866 $10,795 4,897 Total current assets Current liabilities (a) Calculate the current ratio and working capital for 3M for 2009 and 2010. (Round current ratio to 2 decimal places, e.g. 1.25: 1.) urrent ratio 2010 2009 Working capital 2010 2009 million million
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started