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Sherwood, Inc., the parent company of Tasty snack foods and Super 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 liabilities at the end of two recent years:
Current Year (in millions) | Previous Year (in millions) | |||
Cash and cash equivalents | $2,714 | $2,893 | ||
Short-term investments, at cost | 1,928 | 5,373 | ||
Accounts and notes receivable, net | 6,128 | 5,510 | ||
Inventories | 2,693 | 2,155 | ||
Prepaid expenses and other current assets | 897 | 797 | ||
Short-term obligations | 287 | 3,050 | ||
Accounts payable | 6,893 | 6,790 |
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 | fill in the blank 1 | fill in the blank 2 |
2. Quick ratio | fill in the blank 3 | fill in the blank 4 |
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