Suppose 3M Company reported the following financial data for 2022 and 2021 (in millions). 2021 3M COMPANY Balance Sheet (partial) 2022 Current assets Cash and cash equivalents $3,085 Accounts receivable, net 3,290 Inventories 2,685 Other current assets 1,910 Total current assets $10,970 Current liabilities $4,388 $1,890 3,240 3,050 1,580 $9,760 $5,868 Calculate the current ratio for 3M for 2022 and 2021. (Round answers to 2 decimal places, e.9. 1.25:1) Calculate the current ratio for 3M for 2022 and 2021. (Round answers to 2 decimal places, e.g. 1.25:1) 2022 2021 Current ratio LINK TO TEXT Suppose that at the end of 2022, 3M management used $300 million cash to pay off $300 million of accounts paya What would the new ratio be? (Round answer to 2 decimal places, e.g. 1.25:1) Current ratio
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