PepsiCo, Inc. PEP the parent company of FritoLay 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 $ $
Shortterm investments, at cost
Accounts and notes receivable, net
Inventories
Prepaid expenses and other current assets
Shortterm obligations and other liabilities
Accounts payable
a Determine the current ratio and quick ratio for both years. Round your answers to one decimal place.
