Question 3 The following financial data were reported by 3M Company (USA) for 2012 and 2013 (dollars in millions). 3M Company Statements of Financial Position (partial) 2013 2012 Current assets Other current assets $ 2,035 $ 2,849 Inventories 3,864 3,837 Accounts receivable, net 4,253 4,061 Cash and cash equivalents 2,581 2,883 Total current assets $12,733 $13,630 Current liabilities $ 7,498 $ 6,200 Calculate the current ratio and working capital for 3M for 2012 and 2013. (Round current ratio to 2 decimal places, e.g. 1.25: 1.) Current ratio 2013 :1 2012 :1 Working capital 2013 $ million 2012 million Suppose that at the end of 2013, 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 Working capital million Current ratio would Working capital would