Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M Company Balance Sheets (partial) 2020 2019 Current
Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M Company Balance Sheets (partial) 2020 2019 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets $3,120 3,350 2,711 1,950 $11,131 $4,839 $1,872 3,135 3.008 1,570 $9,585 $5,842 Total current assets Current liabilities (a) Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25: 1. Enter working capital answers to million.) Current ratio 2019 :1 2020 :1 Working capital 2019 $ million 2020 $ million
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started