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Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) 2022 2021
Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) 2022 2021 Current assets Cash and cash equivalents $3,200 $1,645 Accounts receivable, net 3,450 3,180 Inventories 2,639 3,042 Other current assets 1,872 1,549 Total current assets $11,161 $9,616 Current liabilities $4,853 $5,893 (a) Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, eg. 1.25:1. Enter working capital answers to million.) Current ratio 2021 2022 Working capital 2021 :1 :1 $ million 2022 $ million
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