The following financial data were reported by 3M Company for 2009 and 2010 (doll
ID: 2380914 • Letter: T
Question
The following financial data were reported by 3M Company for 2009 and 2010 (dollars in millions).3M Company
Balance Sheets (partial) 2010 2009 Current assets Cash and cash equivalents $ 3,377 $ 3,040 Accounts receivable, net 3,615 3,250 Inventories 3,155 2,639 Other current assets 2,068 1,866 Total current assets $12,215 $10,795 Current liabilities $ 6,089 $ 4,897 The following financial data were reported by 3M Company for 2009 and 2010 (dollars in millions).
3M Company
Balance Sheets (partial) 2010 2009 Current assets Cash and cash equivalents $ 3,377 $ 3,040 Accounts receivable, net 3,615 3,250 Inventories 3,155 2,639 Other current assets 2,068 1,866 Total current assets $12,215 $10,795 Current liabilities $ 6,089 $ 4,897 3M Company
Balance Sheets (partial) 2010 2009 The following financial data were reported by 3M Company for 2009 and 2010 (dollars in millions).
3M Company
Balance Sheets (partial) 2010 2009 Current assets Cash and cash equivalents $ 3,377 $ 3,040 Accounts receivable, net 3,615 3,250 Inventories 3,155 2,639 Other current assets 2,068 1,866 Total current assets $12,215 $10,795 Current liabilities $ 6,089 $ 4,897 The following financial data were reported by 3M Company for 2009 and 2010 (dollars in millions). Calculate the current ratio and working capital for 3M for 2009 and 2010.
Explanation / Answer
Current ratio(for 2010) = Current assets/ current liabilities
=$12,215/$6,089
=2.01:1
Current ratio(for 2009) = Current assets/ current liabilities
=$10,795/$4,897
=2.20:1
Working capital (for 2010) = Current assets - current liabilities
= $12,215- $6,089
=$6,126 million
Working capital (for 2010) = Current assets - current liabilities
= $10,795- $4,897
=$5,898 million
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