3M Company reported the following financial data for 2009 and 2008 (in millions). Instructions(a) Calculate the current
Question:
3M Company reported the following financial data for 2009 and 2008 (in millions).
Instructions(a) Calculate the current ratio for 3M for 2009 and 2008.(b) Suppose that at the end of 2009, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratio change?
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a Current ratio 2009 10795 4897 ...View the full answer
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Related Book For 
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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