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Suppose 3M Company reported the following financial data for 2022 and 2021 (in millions). 3M COMPANY Balance Sheet (partial) 2022 2021 Current assets Cash and

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

3M COMPANY Balance Sheet (partial)

2022

2021

Current assets

Cash and cash equivalents

$3,065 $1,870

Accounts receivable, net

3,270 3,220

Inventories

2,665 3,030

Other current assets

1,890 1,560

Total current assets

$10,890 $9,680

Current liabilities

$4,356 $5,808

(a)

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

2022

2021

Current ratio

enter current ratio rounded to 2 decimal places :1 enter current ratio rounded to 2 decimal places :1

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