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

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Accounting

PepsiCo, Inc., 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: Current Year (in millions) Previous Year (in millions) Cash and cash equivalents $8,721 $10,610 Short-term investments, at cost 272 8,900 Accounts and notes receivable, net 7,142 7,024 Inventories 3,128 2,947 Prepaid expenses and other current assets 2,630 1,546 Accounts payable 18,112 15,017 Other short-term liabilities 4,026 5,485 a. Determine the (1) current ratio and (2) quick ratio for both years. Round answers to one decimal place

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