Suppose the following financial data were reported by 3M Company (USA) for 2019 and 2020 (dollars in millions). 3M Company Statement of Financial Position (partial) Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities (a) Current ratio 2019 2020 Working capital 2019 2020 2020 $ $3,010 3,490 2,693 1,878 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round ratios to 2 decimal places, eg. 1.25:1. Enter working capital answers in millions) 2019 $1,917 3,155 3,047 1.568 $11,071 $9.687 $4,843 $5,839 1 11 million million
Suppose the following financial data were reported by 3M Company (USA) for 2019 and 2020 (dollars in millions). 3M Company Statement of Financial Position (partial) Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities (a) Current ratio 2019 2020 Working capital 2019 2020 2020 $ $3,010 3,490 2,693 1,878 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round ratios to 2 decimal places, eg. 1.25:1. Enter working capital answers in millions) 2019 $1,917 3,155 3,047 1.568 $11,071 $9.687 $4,843 $5,839 1 11 million million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Suppose the following financial data were reported by 3M Company (USA) for 2019 and 2020 (dollars in millions).
3M Company
Statement of Financial Position (partial)
Current assets
Cash and cash equivalents
Accounts receivable, net
Inventories
Other current assets
Total current assets.
Current liabilities
(a)
2019
2020
Working capital
2019
2020
$
2020
$
$3,010
3,490
Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round ratios to 2 decimal places, eg. 1.25: 1. Enter
working capital answers in millions)
Current ratio
2,693
1,878
2019
$1,917
3,155
3,047
1.568
$11,071 $9.687
$4,843 $5,839
21
1
million
million
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