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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 Frito-Lay snack foods and Sherwood 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 $3,089 $3,084
Short-term investments, at cost 2,1945,728
Accounts and notes receivable, net 6,9735,874
Inventories 2,8733,063
Prepaid expenses and other current assets 9571,133
Short-term obligations 3063,252
Accounts payable 7,3547,238
a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place.

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