Business, 19.06.2020 13:57 EdgeTheWizard

Current Position Analysis Sherwood, Inc., had the following current assets and current liabilities at the end of two recent Current Year (in millions) Previous Year (in millions)
Cash and cash equivalents $1,728 $1,535
Short-term investments, at cost 1,228 2,850
Accounts and notes receivable, net 3,902 2,923
Inventories 2,858 3,048
Prepaid expenses and other current assets 952 1,128
Short-term obligations 305 3,236
Accounts payable 7,315 7,204
a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal
Year 2 Year 1
Current ratio 2.40 2.20
Quick ratio 1.95 1.84
b. What conclusion can be drawn from these data? Sherwood's liquidity position has improved during the period.

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Current Position Analysis Sherwood, Inc., had the following current assets and current liabilities a...

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