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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 of

image text in transcribed 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: \begin{tabular}{lcc} & CurrentYear(inmillions) & PreviousYear(inmillions) \\ \hline Cash and cash equivalents & $5,509 & $8,721 \\ Short-term investments, at cost & 229 & 2,269 \\ Accounts and notes receivable, net & 7,822 & 7,142 \\ Inventories & 3,338 & 3,128 \\ Prepaid expenses and other current assets & 747 & 633 \\ Short-term obligations & 2,920 & 4,026 \\ Accounts payable & 17,541 & 18,112 \end{tabular} a. Determine the (1) current ratio and (2) quick ratio for both years. Round your answers to one decimal place. 1. Current ratio 2. Quick ratio

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