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: Current Year Previous Year (in millions) Cash and cash equivalents Short-term investments, at cost Accounts and notes receivable, net Inventories Prepaid expenses and other current assets Short-term obligations Accounts payable a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place $9,158 6,967 6,694 2,723 1,547 6,892 14,243 (in millions) $9,096 2,913 6,437 2,720 1,865 4,071 13,507 Current Year Previous Year 1. Current ratio 2. Quick ratio b. The liquidity of PepsiCo has PepsiCo appears to have slightly over this time period. The current ratio has and the quick ratio has resources to meet its short-term obligations, and these resources have during this time period