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 $4,549 $4,922 Short-term investments, at cost 3,231 9,140 Accounts and notes receivable, net 10,270 9,374 Inventories 1,425 950 Prepaid expenses and other current assets 475 352 Short-term obligations 380 4,036 Accounts payable 9,120 8,984 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 b. The liquidity of Sherwood has company with during this period. some over this time period. Both the current and quick ratios have Sherwood is a resources for meeting short-term obligations. Its liquidity as measured by the current and quick ratios has