The financial statements of P&G are presented in Appendix B. The companys complete annual report, including the notes to the financial statements, is available online. Refer to P&Gs financial statements and the related information in the annual report to answer the following questions.

1. How much working capital did P&G have on June 30, 2014? On June 30, 2013? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Enter your answer in millions.)

2. What were P&Gs cash flows from its operating, investing, and financing activities for 2014? What were its trends in net cash provided by operating activities over the period 20122014? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Net cash provided by operating activities		$ millions		$ millions		$ millions
Net cash used in investing activities		$ millions		$ millions		$ millions
Net cash used in financing activities		$ millions		$ millions		$ millions

(Round answers to 1 decimal place, e.g. 52.7.)

P&Gs net cash provided by operating activities

increaseddecreased

by

% from 2012 to 2013.

P&Gs net cash provided by operating activities

decreasedincreased

by

% from 2013 to 2014.

3. Compute P&Gs (1) current cash debt coverage, (2) cash debt coverage, and (3) free cash flow for 2014. (Round ratio values to 2 decimal places, e.g. 52.75.)

Current Cash Debt Coverage			:1
Cash Debt Coverage			:1
Free cash flow		$