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Please Help Me Solve This Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). (a) Calculate the
Please Help Me Solve This
Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). (a) 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.) (b) Suppose that at the end of 2022,3M management used $210 million cash to pay off $210 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.) Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). (a) 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.) (b) Suppose that at the end of 2022,3M management used $210 million cash to pay off $210 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.)Step by Step Solution
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