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Current Position Analysis years: \begin{tabular}{lcc} & CurrentYear(inmillions) & PreviousYear(inmillions) \\ \hline Cash and cash equivalents...

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Accounting

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Current Position Analysis years: \begin{tabular}{lcc} & CurrentYear(inmillions) & PreviousYear(inmillions) \\ \hline Cash and cash equivalents & $4,818 & $5,002 \\ Short-term investments, at cost & 3,422 & 9,290 \\ Accounts and notes recelvable, net & 10,878 & 9,528 \\ Inventories & 1,955 & 1,739 \\ Prepaid expenses and other current assets & 652 & 643 \\ Short-term obligations & 348 & 3,692 \\ Accounts payable & 8,342 & 8,218 \end{tabular} a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decinal place. Current Position Analysis years: \begin{tabular}{lcc} & CurrentYear(inmillions) & PreviousYear(inmillions) \\ \hline Cash and cash equivalents & $4,818 & $5,002 \\ Short-term investments, at cost & 3,422 & 9,290 \\ Accounts and notes recelvable, net & 10,878 & 9,528 \\ Inventories & 1,955 & 1,739 \\ Prepaid expenses and other current assets & 652 & 643 \\ Short-term obligations & 348 & 3,692 \\ Accounts payable & 8,342 & 8,218 \end{tabular} a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decinal place

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