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Current Position Analysis Sherwood, Inc., the parent company of Frito Lay sack foods and Sherwood...

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Current Position Analysis Sherwood, Inc., the parent company of Frito Lay sack foods and Sherwood beverages, had the following current assets and currenties at the end of two recent years 3.425 1.014 Current Year Previous Year (in millions) (in millions) Cash and cash equivalents 34,146 34,470 Short term investments, at cost 2,945 8,301 Accounts and notes receivable.net 9,361 8.513 Inventaries 2,742 Prepaid expenses and other current assets 1,142 Short-term obligations 366 3,881 Accounts payable 8,774 8,639 a. Determine the (1) current ratio and (2) dati for both years. Hound to one decimal place Current Year Previous Year 1. Current ratio 2. Quick ratio b. The liquidty of Sherwood has increased some over this time period. Both the current and quick to have increased - Sherwood is stron S company with ample resources for meeting short-term obligations. Its lquidity as measured by the currejt and quick ratio improved during this period

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