Please do not give solution in image format thanku 2022Working capital(b)20212022Current ratio$Working capital$:1Suppose that at the end of 2022, 3M management used $190 million cash to pay off $190 million of accounts payable. How would itscurrent ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25:1)$millionmillion:1million Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions).3M CompanyBalance Sheets (partial)2022Current assetsCash and cash equivalentsAccounts receivable, netInventoriesOther current assetsTotal current assetsCurrent liabilities(a)Current ratio20212022$3,002 $1,8873,2702,6811,8802021$4,9393,1551,533$10,833 $9,601$5.887Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, e.g. 1.25:1)3,026:1

Ratio analysis s helps to analyze the financial statements of the company. The management can take…

Suppose the following financial data were reported by 3M Company 18 2021 3M Company Balance Sheets (partial) 2022 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities (a) Current ratio : 2021 $3,002 3,270 2032 2,681 1.880 $10,833 $4.939 2021 $1,887 Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, eg. 1.25:1) 3,155 3,026 1,533 $9,601 $5.887 Sm

Suppose the following financial data were reported by 3M Company 18 2021 3M Company Balance Sheets (partial) 2022 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities (a) Current ratio : 2021 $3,002 3,270 2032 2,681 1.880 $10,833 $4.939 2021 $1,887 Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, eg. 1.25:1) 3,155 3,026 1,533 $9,601 $5.887 Sm

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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