Question: Suppose 3M Company reported the following financial data for 2014

Suppose 3M Company reported the following financial data for 2014 and 2013 (in millions).


Instructions
(a) Calculate the current ratio for 3M for 2014 and 2013.
(b) Suppose that at the end of 2014, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratiochange?
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  • CreatedApril 07, 2014
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