Suppose the following fi nancial data were reported by 3M Company for 2016 and 2017 (dollars in millions). 3M COMPANY Balance Sheets (partial) 2017 2016 Current assets Cash and cash equivalents $ 3,040 $1,849 Accounts receivable, net 3,250 3,195 Inventories 2,639 3,013 Other current assets 1,866 1,541 Total current assets $10,795 $9,598 Current liabilities $ 4,897 $5,839 Instructions (a) Calculate the current ratio and working capital for 3M for 2016 and 2017. (b) Suppose that at the end of 2017, 3M management used $200 million cash to pay off $200 million of accounts payable. How would its current ratio and working capital have changed

Financial performance is measured in many ways. requirements 1. explain the difference between lag and lead indicators. 2. the following is a list of financial measures. indicate whether each is a lag or lead indicator: a. income statement shows net income of $100,000 b. listing of next week's orders of $50,000 c. trend showing that average hits on the redesigned website are increasing at 5% per week d. price sheet from vendor reflecting that cost per pound of sugar for the next month is $2 e. contract signed last month with large retail store that guarantees a minimum shelf space for grandpa's overloaded chocolate cookies for the next year