Instructions Refer to P&G's 2015 financial statements and the accompanying notes to answer the following questions.

(a) What types of investments did P&G hold, if any? In what classifications are P&G's investments reported? What valuation basis does P&G use to report its investments?

(b) How much working capital did P&G have on June 30, 2015? On June 30, 2014? Did P&G appear to be in good financial health? Explain.

(c) Which method of computing net cash provided by operating activities does P&G use? What was the most significant item in the cash flows used for the investing activities section in 2015? What was the most significant item in the cash flows used for the financing activities section in 2015?

(d) P&G reports no allowance for doubtful accounts, suggesting that bad debt expense is not material for this company. Is it reasonable that a company like P&G would not have material bad debt expense? Explain.