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 Short-term investments, at cost Accounts and notes receivable, net Inventories $6,297 $4,067 322 358 7,041 3,581 1,479 4,815 12,274 6,912 3,827 2,277 6,205 11,949 Prepaid expenses and other current assets Short-term obligations Accounts payable a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Current Year Previous Year 1. Current ratio 2. Quick ratio b. The solvency of PepsiCo has slightly over this time period. The current ratio has and the quick ratio has PEPSICO appears to have resources to meet its short term obligations, and these resources have remained during this time period