Quick Ratio

Smith and Sons, Inc. Income Statement (in millions)
2016 2015
Net sales 10,100 9,600
Cost of goods sold (5,500) (5,200)
Gross profit 4,600 4,400
Selling and administrative expenses (2,800) (2,700)
Income from operations 1,800 1,700
Interest expense (300) (250)
Income before income taxes 1,500 1,450
Income tax expense (420) (400)
Net income 1,080 1,050

Smith and Sons, Inc. Balance Sheet (in millions)
2016 2015
Assets
Current assets
Cash and cash equivalents 250 450
Accounts receivable 900 800
Inventory 550 700
Other current assets 400 250
Total current assets 2,100 2,200
Property, plant & equipment, net 2,550 2,450
Other assets 5,700 5,900
Total Assets 10,350 10,550
Liabilities and Stockholders' Equity Current liabilities 3,050 2,950
Long-term liabilities 5,000 5,400
Total liabilities 8,050 8,350
Stockholders' equity-common 2,300 2,200
Total Liabilities and Stockholders' Equity 10,350 10,550

Calculate the quick ratio for Smith & Sons, Inc., for 2015 and 2016.