Suppose 3M Company reported the following financial data for 2014 and 2013 (in millions).

3M COMPANY Balance Sheet (partial)
2014	2013
Current assets
Cash and cash equivalents	$3,040	$1,849
Accounts receivable, net	3,250	3,195
Inventories	2,639	3,013
Other current assets	1,866	1,541
Total current assets	$10,795	$9,598
Current liabilities	$4,897	$5,839

Calculate the current ratio for 3M for 2014 and 2013. (Round answers to 2 decimal places, e.g. 1.25:1)

2014	2013
Current ratio	:1	:1

Suppose that at the end of 2014, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratio change? (Round answer to 2 decimal places, e.g. 1.25:1)

Current ratio

:1