PepsiCo, Inc. , the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current
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Question:
PepsiCo, Inc., 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 | $8,721 | $10,610 | ||
Short-term investments, at cost | 272 | 8,900 | ||
Accounts and notes receivable, net | 7,142 | 7,024 | ||
Inventories | 3,128 | 2,947 | ||
Prepaid expenses and other current assets | 2,630 | 1,546 | ||
Accounts payable | 18,112 | 15,017 | ||
Other short-term liabilities | 4,026 | 5,485 |
a. Determine the (1) current ratio and (2) quick ratio for both years. Round answers to one decimal place.
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