Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in...

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Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) 2022 2021 Current assets Cash and cash equivalents $ 3,030 $1,863 Accounts receivable, net 3,090 3,130 Inventories 2,612 3,024 Other current assets 1,810 1,541 Total current assets $10,542 $9,558 Current liabilities $ 4,946 $5,875 (a) Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, e.g. 1.25: 1.) Current ratio 2021 2022 Working capital 2021 :1 :1 $ million 2022 $ million (b) Suppose that at the end of 2022, 3M management used $150 million cash to pay off $150 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.) Current ratio Working capital $ :1 million Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) 2022 2021 Current assets Cash and cash equivalents $ 3,030 $1,863 Accounts receivable, net 3,090 3,130 Inventories 2,612 3,024 Other current assets 1,810 1,541 Total current assets $10,542 $9,558 Current liabilities $ 4,946 $5,875 (a) Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, e.g. 1.25: 1.) Current ratio 2021 2022 Working capital 2021 :1 :1 $ million 2022 $ million (b) Suppose that at the end of 2022, 3M management used $150 million cash to pay off $150 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.) Current ratio Working capital $ :1 million