Maple Leaf Foods Inc. is a packaged meat producer. It reports biological assets on its balance sheet which consists of hogs and poultry livestock. These are considered current assets somewhat similar to inventory. The company reports the following current assets and current liabilities at December 31, 2014 (in thousands):

Instructions
(a) Prepare the current liabilities section of the balance sheet. The provisions are due within 12 months of the balance sheet date.
(b) Calculate the current and acid-test ratios.
(c) At December 31, 2013, MapleLeaf Foods Inc. had to tal current assets of $1,183,171 thousand, which included cash of $506,670 thousand, receivables of $111,034 thousand and notes receivable of $115,514. Current liabilities were $966,522 thousand. Did the current and acid-test ratios improve or weaken in 2014?
Taking It Further
What other factors should be considered in assessing Maple Leaf Foods' liquidity?

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Cash Accounts payable and accruals Accounts receivable Biological assets Current portion of long-term debt Income taxes payable Inventories Notes receivable Other current liabilities Prepaid expenses and other assets Provisions $496,328 275,249 60,396 105,743 472 26,614 270,401 110,209 24,383 20,157 60,443