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 and (2) quick ratio for both years. Round to one decimal place.
b. What conclusions can you draw from thesedata?

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Current Year (in millions) Prior Year (in millions) $3,943 5,943 426 6,323 3,372 1,505 4,898 10,994 Cash and cash equivalents Short-term investments, at cost Accounts and notes receivable, net 192 3 4,624 2,618 1,194 8292 Prepaid expenses and other current assets Short-term obligations Accounts payable