The Procter & Gamble Company (P&G) The financial statements of P&G are presented in Appendix B. The company's complete annual report, including the notes to the financial statements, is available online.

Instructions.

Refer to P&G's 2014 financial statements and the accompanying notes to answer the following questions.

( a) What cash outflow obligations related to the repayment of long- term debt does P &G have over the next 5 years?

( b) P&G indicates that it believes that it has the ability to meet business requirements in the foreseeable future Prepare an assessment of its liquidity , solvency, and financial flexibility using ratio analysis .