Current Position Analysis Sherwood, Inc., the parent company of Frito-Lay snack foods and Sherwood 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 $2,999 $3,081 Short-term investments, at cost 2,130 5,721 Accounts and notes receivable, net 6,771 5,868 Inventories 2,231 2,380 Prepaid expenses and other current assets 744 880 Short-term obligations 238 2,527 Accounts payable 5,712 5,623 a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Current Year 1. Current ratio 2. Quick ratio b. The liquidity of Sherwood has increased strong company with ample improved during this period. Previous Year . Sherwood is a some over this time period. Both the current and quick ratios have increased resources for meeting short-term obligations. Its liquidity as measured by the current and quick ratios has