woorn AR-NOS 20.00 GE Lh5.20UU LONUW2 Unline nach eBook Current Position Analysis Sherwood, Inc., had the following current assets and current liabilities at the end of two recent years: Year 2 (in millions) Year 1 (in millions) $4,239 $4,355 Cash and cash equivalents Short-term investments, at cost Accounts and notes receivable, net 3,011 8,087 9,570 8,294 Inventories 3,154 4,205 1,051 1,555 Prepaid expenses and other current assets Short-term obligations (Tiabilities) Accounts payable and other current liabilities 336 3,571 7,965 7,281 a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Year 2 Year 1 Current ratio Quick ratio b. What conclusion can be drawn from these data? Sherwood's liquidity position has improved during the period. Cho My Wh Check My Work Previo