Current Position Analysis 59,95 6,694 PepsiCo, Inc. (PEP), the parent company of Frito Lay snack foods and Pepsi beverages, had the following current assets and current les at the end of two recent years: Current Year Previous Year (in millions) (in millions) Cash and cash equivalents $9,158 Short-term investments, at cost 6,967 2,913 Accounts and notes receivable, net 6,437 Inventaries 2,723 2,720 Prepaid expenses and other current assets 1,547 1,065 Short-term obligations 6,892 4,071 Accounts payable 14,243 13.507 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 and the quick ratio has PepsiCo appears to have b. The liquidity of PepsiCo has slightly over this time period. The current ratio has resources to meet its short-term obligations, and these resources have during this time period