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Suppose the following financial data were reported by 3M Company (USA) for 2019 and 2020 (dollars in millions). 3M Company Statement of Financial Position
Suppose the following financial data were reported by 3M Company (USA) for 2019 and 2020 (dollars in millions). 3M Company Statement of Financial Position (partial) 2020 2019 Current assets Cash and cash equivalents $3,010 $1,917 Accounts receivable, net 3,490 3,155 Inventories 2,693 3,047 Other current assets 1,878 1,568 Total current assets $11,071 $9.687 Current liabilities $4,843 $5,839 (a) Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round ratios to 2 decimal places, eg. 1.25:1. Enter working capital answers in millions) Current ratio 2019 2020 Working capital :1 1 2019 $ million 2020 $ million
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