Chapter 14 - Homework eBook Calculator Print Item Current Position Analysis Sherwood, Inc., the parent company of Tasty snack foods and Super beverages, had the following current assets and current liabilities at the end of two recent years: Previous Year (in millions) Current Year (in millions) $1,359 965 $1,163 Cash and cash equivalents Short-term investments, at cost Accounts and notes receivable, net 2,160 3,068 2,022 2,215 2,695 Inventories 997 Prepaid expenses and other current assets Short-term obligations Accounts payable 674 270 2,861 6,369 6,470 a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place Current Year Previous Year 1. Current ratio 2. Quick ratio company with b. The liquidity of Sherwood has some over this time period. Both the current and quick ratios have resources for meeting short-term obligations. Its liquidity as measured by the current and quick ratios has Sherwood is a during this period. Check My Work 5 more Check My Work uses remaining. Previous Next > Assignment Score: 0.0% Save and Exit Submit Assignment for Grading