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PepsiCo, Inc. (PEP) , the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current assets and current liabilities at the end

PepsiCo, Inc. (PEP), the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current assets and current liabilities at the end of two recent years:

Current Year (in millions) Previous Year (in millions)
Cash and cash equivalents $13,189 $1,703
Short-term investments, at cost 7,090 4,596
Accounts and notes receivable, net 6,988 7,772
Inventories 3,403 3,393
Prepaid expenses and other current assets 1,557 1,914
Short-term obligations 7,298 3,902
Accounts payable 15,082 12,948

  1. Determine the (1) current ratio and (2) quick ratio for both years. Round your answers to one decimal place.

    Current Year Previous Year
    1. Current ratio fill in the blank 2 fill in the blank 3
    2. Quick ratio fill in the blank 4 fill in the blank 5

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