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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 Current

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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 Current assets Cash and cash equivalents $3,120 $1,872 Accounts receivable, net 3,350 3,135 Inventories 2,711 3,008 Other current assets 1,950 1.570 Total current assets $11,131 $9,585 Current liabilities $4,839 $5,842 (a) Your answer is incorrect. 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 :1 2022 :1 Working capital 2021 $ million 2022 $ million Suppose that at the end of 2022, 3M management used $197 million cash to pay off $197 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, eg. 1.25:1. Enter working capital answer to million.) :1 Current ratio $ million Working capital

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