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Sherwood, Inc., the parent company of Frito - Lay snack foods and Sherwood beverages, had the following current assets and current liabilities at the end
Sherwood, Inc., the parent company of FritoLay snack foods and Sherwood beverages, had the following current assets and current liabilities at the end of two recent years:
Current Yearin millions Previous Yearin millions
Cash and cash equivalents $ $
Shortterm investments, at cost
Accounts and notes receivable, net
Inventories
Prepaid expenses and other current assets
Shortterm obligations
Accounts payable
a Determine the current ratio and quick ratio for both years. Round to one decimal place.
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