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PepsiCo, Inc. (PEP), the parent company of Frito-Lay snack foods and Pepsi beverages, had the...

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Accounting

PepsiCo, Inc. (PEP), the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current assets and current liabilities at the end of two recent years:
Line Item Description Current Year
(in millions) Previous Year
(in millions)
Cash and cash equivalents $5,596 $8,185
Short-term investments, at cost 3921,366
Accounts and notes receivable, net 8,6808,404
Inventories 4,3474,172
Prepaid expenses and other current assets 2,768874
Short-term obligations and other liabilities 5,0613,780
Accounts payable 21,15919,592
a. Determine the (1) current ratio and (2) quick ratio for both years. Round your answers to one decimal place.
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