Homework Answers
(a) Current ratio = Current assets / Current liabilities
2019 = $9751/5869 = 1.66:1
2020 = $10965/4821 = 2.27:1
Working Capital = Current assets - Current liabilities
2019 = $9751 - 5869 = $3,882
2020 = $10965 - 4821 = $6,144
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Exercise 1 UU UUUULLU UUM Suppose the following financial data were reported by 3M Company for...
Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in...
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Aint nobody got time for that! Exercise 11-08 a-b Suppose the following financial data were reported...
Aint nobody got time for that!
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(b) Suppose that at the end of 2020, 3M management used $196 million cash to pay...
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(b) Suppose that at the end of 2020, 3M management used $196 million cash to pay...
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Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 2019 3M Company Balance Sheets (partial) 2020 Current assets Cash and cash equivalents $3,180 Accounts receivable, net 3,600 Inventories 2,738 Other current assets 1,932 Total current assets $11,450 Current liabilities $4,830 $1,836 3,180 3,019 1,590 $9,625 $5,887 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. Enter working capital...
Aint nobody got time for that!
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(b) Suppose that at the end of 2020, 3M management used $196 million cash to pay off $196 million of accounts payable. How would its current ratio and working answer to million.) Current ratio :1 Working capital million By accessing this Question Assistance, you willl learn while you earn points based on the Point Potential Policy set by your instructor WileyPLUS-Googl DOLL Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2...
(b) Suppose that at the end of 2020, 3M management used $196 million cash to pay off $196 million of accounts payable. How would its current ratio and working answer to million.) Current ratio Working capital million By accessing this Question Assistance, you will learn while you earn points based on the Point Potential policy set by your instructor 9 WileyPLUS - Google SHOW SOLUTION LINK TO TEXT By cessing this Ouestion since you will learn while you earn points...
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