Current Position Analysis PepsiCo, Inc., 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) (in millions) Cash and cash equivalents $3,425 $3,742 Short-term investments, at cost 2,433 6,950 Accounts and notes receivable, net 7,735 7,128 Inventories 1,330 1,183 Prepaid expenses and other current assets 443 437 Short-term obligations 236 2,511 Accounts payable 5,674 5,589 a. Determine the (1) current ratio and (2) quick ratio for both years. Round answers to one decimal place. 1. Current ratio 2. Quick ratio Current Year Previous Year b. The liquidity of PepsiCo has increased some over this time period. Both the current and quick ratios have increased