Sherwood, Inc., the parent company of Tasty snack foods and Super beverages, had the following...
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Accounting
Sherwood, Inc., the parent company of Tasty snack foods and Super 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
$2,714
$2,893
Short-term investments, at cost
1,928
5,373
Accounts and notes receivable, net
6,128
5,510
Inventories
2,693
2,155
Prepaid expenses and other current assets
897
797
Short-term obligations
287
3,050
Accounts payable
6,893
6,790
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
fill in the blank 1
fill in the blank 2
2. Quick ratio
fill in the blank 3
fill in the blank 4
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