Current Position Analysts Sherwood, Inc., the parent company of Frito-Lay snack foods and Sherwood beverages, had the following current assets and current abilities at the end of two recent years: Current Year Previous Year (in millions) (in millions) Cash and cash equivalents Short-term investments, at cost $3,897 14,215 2,768 7,827 Accounts and notes receivable, net 01 8,028 Inventories 2,442 2,442 Prepaid expenses and other current assets 814 903 Short-term obligations 326 3,457 Accounts payable 7,814 7,693 a. Determine the (3) current rate and (2) dock ratio for both years. Round to one decimal place, Current Year Previous Year 1. Current ratio 2. Quick rat b. The Squidity of Sherwood has some over this time perd Both the current and quick rates have Sherwood is a ompany resources for meeting short-term obogations, Its oudity as measured by the current and quick rates has during this prod