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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 $2,099 $2,156 Short-term investments, at cost 1,491 4,005 Accounts and notes receivable, net 4,740 4,108 Inventories 2,499 2,499 Prepaid expenses and other current assets 833 924 Short-term obligations 333 3.537 Accounts payable and other current liabilities 7,889 7,211 Income taxes payable 108 662 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 solvency of Sherwood has some over this time period. Both the current and quick ratios have Sherwood is a resources for meeting short-term obligations. Its solvency as measured by the current and quick ratios has company with during this period