PLEASE ANSWER ALL (113)

Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions).

3M Company Balance Sheets (partial)
		2022		2021
Current assets
Cash and cash equivalents		$3,090		$1,800
Accounts receivable, net		3,360		3,165
Inventories		2,756		3,001
Other current assets		1,872		1,629
Total current assets		$11,078		$9,595
Current liabilities		$4,756		$5,872

Your answer is incorrect.

Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.)

Current ratio
2021			:1
2022			:1
Working capital
2021		$	million
2022		$	million

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Your answer is incorrect.

Suppose that at the end of 2022, 3M management used $193 million cash to pay off $193 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. Enter working capital answer to million.)

Current ratio			:1
Working capital		$	million