261 keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator&inprogress=false eBook Calculator 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: Year 2 Year 1 (in millions) (in millions) $ 9,158 $ 10,610 Cash and cash equivalents Short-term investments, at cost 8,900 6,967 6,694 7,024 Accounts and notes receivable, net Inventories 2.947 2.723 1,546 908 Prepaid expenses and other current assets 6.892 5,485 Short-term obligations (liabilities) 15,017 14,243 Accounts payable and other current liabilities a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Year 2 Year 1 Current ratio Quick ratio b. What conclusion can be drawn from these data? Previ Check My Work Em Instructor Save and E Submit