*Exercise 10-18 Your answer is partially correct. Try again. 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 $ 3,016 $1,892 Accounts receivable, net 3,035 3,105 Inventories 2,642 3,016 Other current assets 1,814 1,505 Total current assets $10,507 $9,518 Current liabilities $ 4,918 $5,824 (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.) Current ratio 2019 1.63 : 1 2020 2. 14 :1 Working capital 2019 $ 3694) million 2020 $ 5589) million (b) Suppose that at the end of 2020, 3M management used $220 million cash to pay off $220 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25 ; 1.) X Current ratio 1.66 : 1 Working capital $ 5589) million Question Attempts: 1 of 3 used