Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions).3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,040 $1,908 Accounts receivable, net 3,370 3,180 Inventories 2,774 3,016 Other current assets 1,956 1,628Total current assets $11,140 $9,732Current liabilities $4,882 $5,875Calculate the current ratio and working capital for 3M for 2019 and 2020.

Name: Suppose the following financial data were reported by 3M Company for 2
Uploaded: 2022-11-18T00:26:54.000Z
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Description: Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions).3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,040 $1,908 Accounts receivable, net 3,370 3,18

Answered: Suppose the following financial data…

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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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	$3,040	$1,908
Accounts receivable, net	3,370	3,180
Inventories	2,774	3,016
Other current assets	1,956	1,628
Total current assets	$11,140	$9,732
Current liabilities	$4,882	$5,875

Calculate the current ratio and working capital for 3M for 2019 and 2020.

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