The following financial data were reported by 3M Company for 2008 and 2009 (dollars in millions).
![984_Current ratio and working capital have changed.PNG](https://secure.tutorsglobe.com/CMSImages/984_Current%20ratio%20and%20working%20capital%20have%20changed.PNG)
Instructions
(a) Calculate the current ratio and working capital for 3M for 2008 and 2009.
(b) Suppose that at the end of 2009, 3M management used $200 million cash to pay off $200 million of accounts payable. How would its current ratio and working capital havechanged?