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Current Position Analysis PepsiCo, Inc. (PEP), the parent company of Frito Lay snack foods and Pepsi beverages, had the following current assets and current liabilities

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Current Position Analysis PepsiCo, Inc. (PEP), the parent company of Frito Lay snack foods and Pepsi beverages, had the following current assets and current liabilities at the end of two recent years: Year 2 (in millions) Year 1 (in millions) Cash and cash equivalents $ 6,134 Short-term investments, at cost 2,592 Accounts and notes receivable, net $ 9,096 2,913 6,437 2,720 1,865 Inventories 6,651 3,143 2,143 5,076 Prepaid expenses and other current assets Short-term obligations (liabilities) 4,071 Accounts payable and other current liabilities 13,507 13,016 a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Year 2 Year 1 Current ratio Quick ratio b. What condusion can be drawn from these data

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