The following financial data were reported by 3M Company for 2007 and 2008 (dollars in millions). Instructions
Question:
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Instructions
(a) Calculate the current ratio and working capital for 3M for 2007 and 2008.
(b) Suppose at the end of 2008, 3M management used $300 million cash to pay off $300 million of accounts payable. How would the current ratio and working capital havechanged?
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a Current ratio 20089598 5839 1641 20079838 5362 1831 Working ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0470507018
7th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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