Print Item Calculator eBook Current Position Analysis r beverages, had the following current assets and current liabilities at the end of two Sherwood, Inc., the parent company of Tasty snack foods and Super beverages, had the following current assets and current recent years: Previous Year Current Year (in millions) (in millions) $3,557 $3,270 Cash and cash equivalents 6,607 2,323 Short-term investments, at cost 6,776 Accounts and notes receivable, net 7,385 618 927 Inventories 229 309 Prepaid expenses and other current assets 2,626 247 Short-term obligations 5,933 5,844 Accounts payable a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place Previous Year Current Year 1. Current ratio 2. Quick ratio some over this time period. Both the current and quick ratios have b. The liquidity of Sherwood has Sherwood is company with resources for meeting short-term obligations. Its liquidity as measured by the current and quick ratios has during this period