The following information was summarized from the balance sheets of the Coca-Cola Company and Subsidiaries at December 31, 2008, and PepsiCo Inc. and Subsidiaries at December 27, 2008:

Required
1. Using the information provided, compute the following for each company at the end of 2008:
a. Current ratio
b. Quick ratio
2. Coca-Cola reported cash flow from operations of $7,571 million during 2008. PepsiCo reported cash flow from operations of $6,999 million. Current liabilities reported by Coca-Cola at December 31, 2007, and PepsiCo at December 29, 2007, were $13,225 million and $7,753 million, respectively. Compute the cash flow from operations to current liabilities ratio for each company for 2008.
3. Comment briefly on the liquidity of each of these two companies. Which appears to be more liquid?
4. What other ratios would help you more fully assess the liquidity of thesecompanies?

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in millions) Cash and cash equivalents Short-term investments/marketable securities Accounts and notes receivables, net Coca-Cola PepsiCo 4,701 278 3,090 2,187 $ 2,064 213 4,683 2,522 1,324 $10,806 $8,787 Prepaid expenses and other current assets Total current assets Current liabilities Described as "trade accounts receivable, less allowances" by Coca-Cola. $ 12,176 $12,988