PepsiCo, Inc., the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current...

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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 Previous Year (in millions) (in millions) Cash and cash equivalents Short-term investments, at cost $3,415 $3,620 2,426 6,723 Accounts and notes receivable, net 7,711 6,895 Inventories 2,178 1,936 Prepaid expenses and other current assets 726 716 Short-term obligations 387 4,111 Accounts payable 9,293 9,149 a. Determine the (1) current ratio and (2) quick ratio for both years. Round answers to one decimal place. Current Year Previous Year 1. Current ratio 2. Quick ratio b. The liquidity of PepsiCo has some over this time period. Both the current and quick ratios have 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 Previous Year (in millions) (in millions) Cash and cash equivalents Short-term investments, at cost $3,415 $3,620 2,426 6,723 Accounts and notes receivable, net 7,711 6,895 Inventories 2,178 1,936 Prepaid expenses and other current assets 726 716 Short-term obligations 387 4,111 Accounts payable 9,293 9,149 a. Determine the (1) current ratio and (2) quick ratio for both years. Round answers to one decimal place. Current Year Previous Year 1. Current ratio 2. Quick ratio b. The liquidity of PepsiCo has some over this time period. Both the current and quick ratios have