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 $3,200 $1,845 Accounts receivable, net 3,450 3,180 Inventories 2,639 3,042 Other current assets 1,872 1,549 Total current assets $11,161 $9,616 Current liabilities $4,853 $5,893 (a) 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.)
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
$3,200
$1,845
Accounts receivable, net
3,450
3,180
Inventories
2,639
3,042
Other current assets
1,872
1,549
Total current assets
$11,161
$9,616
Current liabilities
$4,853
$5,893
(a)
Calculate the
Current ratio
2019
:1
2020
:1
Working capital
2019
$
million
2020
$
million
(b)
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