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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
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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2022 Working capital (b) 2021 2022 Current ratio $ Working capital $ :1 Suppose that at the end of 2022, 3M management used $190 million cash to pay off $190 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25:1) $ million million :1 million
Transcribed Image Text:2022 Working capital (b) 2021 2022 Current ratio $ Working capital $ :1 Suppose that at the end of 2022, 3M management used $190 million cash to pay off $190 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25:1) $ million million :1 million
Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 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 2022 $3,002 $1,887 3,270 2,681 1,880 2021 $4,939 3,155 1,533 $10,833 $9,601 $5.887 Calculate 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
Transcribed Image Text:Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 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 2022 $3,002 $1,887 3,270 2,681 1,880 2021 $4,939 3,155 1,533 $10,833 $9,601 $5.887 Calculate 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
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