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	$1,671		$1,525
Short-term investments, at cost	1,187		2,833
Accounts and notes receivable, net	3,772		2,906
Inventories	1,989		2,651
Prepaid expenses and other current assets	663		981
Short-term obligations	265		2,815
Accounts payable	6,365		6,265

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	fill in the blank 1	fill in the blank 2
2. Quick ratio	fill in the blank 3	fill in the blank 4

b. The liquidity of PepsiCo has some over this time period. Both the current and quick ratios have .