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:

a. Determine the
(1) Current ratio
(2) Quick ratio for both years. Round to two digits after the decimal place.
b. What conclusions can you draw from thesedata?

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Dec. 28, 2002 (in millions) Dec. 28, 2001 (in millions) Cash and cash equivalents Short-term investments, at cost Accounts and notes receivable, net Inventories Prepaid expenses and other current assets Short-term obligations Acco Income taxes payable 1,638 207 2,531 1,342 695 562 4,998 492 683 966 2,142 1,310 752 354 4,461 183 unts payable and other current liabilities