Chapter 13, Problem 1UJ

To determine

Financial statements: Financial statement of a company includes statement of assets and liabilities, income and expenses, notes to accounts, ratios, working capital and cash flow statements.

(a)

To determine P&G’s 2014 short-term debt and related weighted-average interest rate on this debt.

To determine

(b)

To compute: To compute P&G’s 2014 working capital, acid-test ratio, and current ratio and to comment on P&G’s liquidity.

To determine

(c)

To determine the types of commitments and contingencies that P&G reported in its financial statements and management’s reaction to these contingencies.