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PepsiCo, Inc. the parent company of Frito-Lay snack foodsand Pepsi beverages, had the following current assets and currentliabilities at the end of two recent years:
PepsiCo, Inc. the parent company of Frito-Lay snack foodsand Pepsi beverages, had the following current assets and currentliabilities at the end of two recent years: Dec. 31, 2009 (inmil) Dec. 25, 2008 (in mil) Cash and CashEquivalents $1,716 $1,280 Short-Term Investments, atcost $3,166 $2,165 Accounts and Notes Receivable,net $3,261 $2,999 Inventories $1,693 $1,541 Prepaid Expenses and Other CurrentAssets $ 618 $ 654 Short-TermObligations $2,889 $1,054 Accounts Payable and Other Current Liabilities $5,971 $5,999 Income TaxesPayable $ 546 $ 99 Determine the (1) Current Ratio and (2) Quick Ratio forboth years. Round to one decimal place. ??
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