Current position analysis 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:...

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Extracted text: Current position analysis 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: Current Year Previous Year (in millions) (in millions) Cash and cash equivalents $19,993 $10,174 Short-term investnments, at cost 6,551 3,180 Accounts and notes receivable, net 7,100 7,282 Inventories 3,622 3,608 Prepaid expenses and other current assets 1,632 1,797 Short-term obligations 7,290 3,994 Accounts payable 15,065 13,252 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions belovw. Open spreadsheet a. Determine the (1) current ratio and (2) quick ratio for both years. Round your answers to one decimal place. Current Year Previous Year 1. Current ratio 1.74 2. Quick ratio