Q7 - Suppose the following financial data were reported by Miles Company for 2019 and 2020 (dollars in millions). 2019 Miles Company Balance Sheets (partial) 2020 Current assets Cash and cash equivalents $ 720 Accounts receivable, net 2,350 Inventories 1,300 Other current assets 500 Total current assets $4,870 Current liabilities $ 3,450 $2,150 2,200 1,100 600 $6,050 $4,340 Instructions (a). Calculate the current ratio and working capital for Miles for 2019 and 2020. (b). Suppose that at the end of 2020, Miles management used $220 million cash to pay off $220 million of accounts payable. How would its current ratio and working capital have changed