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years: Current Year Previous Year (in millions) (in millions) Cash and cash equivalents $4,146 $4,470...

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Accounting

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years: Current Year Previous Year (in millions) (in millions) Cash and cash equivalents $4,146 $4,470 Short-term investments, at cost 2,945 8,301 Accounts and notes receivable, net 9,361 8,513 Inventories 3,428 2,742 Prepaid expenses and other current assets 1,142 1,014 Short-term obligations 366 3,881 Accounts payable 8,774 8,639 a. Determine the (1) current ratio and (2) quick ratio for both years, Round to one decimal place. Current Year Previous Year 1. Current ratio 2. Quick ratio b. The liquidity of Sherwood has increased strong company with ample improved during this period some over this time period. Both the current and quick ratios have increased Sherwo V resources for meeting short-term obligations. Its liquidity as measured by the current and quick ratios F Check My Work a 1 Mde current assets by current liabides a 2 Divide quick assets by current liabilities Ouick assets are cash, temporary investments, and receivable Consider the relationship of the accounts involved Check My Work Previous All work saved Save and Er Submit Assignmen

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