1. The following financial data were reported by 3M Company for 2006 and 2007 (dollars in millions).
![](https://www.solutioninn.com/images3/47-B-A-L%20(223).PNG)
Instructions
(a) Calculate the current ratio and working capital for 3M for 2006 and 2007.
(b) Suppose that at the end of 2007 3M management used $200 million cash to pay off $200 million of accounts payable. How would its current ratio and working capital have changed?