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 $3,180 $1,836 Accounts receivable, net 3,600 3,180 Inventories 2,738 3,019 Other current assets 1,932 1,590 Total current assets $11,450 $9,625 Current liabilities $4,830 $5,887 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 Link to Text
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 $3,180 $1,836 Accounts receivable, net 3,600 3,180 Inventories 2,738 3,019 Other current assets 1,932 1,590 Total current assets $11,450 $9,625 Current liabilities $4,830 $5,887 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 Link to Text
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
$3,180
$1,836
Accounts receivable, net
3,600
3,180
Inventories
2,738
3,019
Other current assets
1,932
1,590
Total current assets
$11,450
$9,625
Current liabilities
$4,830
$5,887
Calculate the
Current ratio
2019
:1
2020
:1
Working capital
2019
$
million
2020
$
million
Link to Text
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