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 $3,667 2,605 $3,941 7,320 Short-term investments, at cost Accounts and notes receivable, net 8,280 7,507 Inventories 2,568 2,569 Prepaid expenses and other 856 950 current assets Short-term obligations 342 3,636 Accounts payable 8,218 8,094 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 1.9 X 1.7 X 2. Quick ratio b. The liquidity of Sherwood has some over this time period. Both the current and quick ratios have Sherwood is a company with resources for meeting short-term obligations. Its liquidity as measured by the current and quick ratios has during this period