eBook Calculator Print item Current Position Analysis Sherwood, Inc., the parent company of Tasty snack foods and Super 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 $3.735 $3,981 Short-term investments, at cost 2,653 7,393 Accounts and notes receivable, net 8,432 7,582 Inventories 1,482 988 Prepaid expenses and other current assets 494 366 Short-term obligations 395 4,197 Accounts payable 9,485 9,343 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