Compute the $(1)$ current ratio and the $(2)$ quick ratio for Nike Inc. using the following excerpt from the balance sheet reported in a recent $10-$K of Nike Inc.

At May $31($in millions$)$

Current assets

Cash and equivalents $$8,474$

Short$-$term investments $4,558$

Accounts receivable, net $7,388$

Inventories $9,541$

Deferred income taxes $389$

Prepaid expenses and other current assets $1,968$

Total current assets $$32,318$

Current liabilities

Current portion of long$-$term debt $$235$

Notes payable $163$

Accounts payable $4,688$

Accrued liabilities $3,951$

Income taxes payable $71$

Total current liabilities $$9,108$

Ratio Numerator Denominator Result

$1.$ Current ratio Answer $1$

$-$: Answer $2$

$=$

Ratio Numerator Denominator Result

$2.$ Quick ratio Answer $3$

$0$

$-$: Answer $4$

$0$

$=$