Obtain Whole Foods' 2016 annual report (filed November 18, 2016) either through the ''Investor Relations'' portion of its website (do a web search for Whole Foods investor relations) or go to www.sec.gov and click ''Company Filings Search'' under ''Filings.''

Required:

1. What are Whole Foods' total current liabilities for 2016?

2. How much of its current liabilities is the current portion of all long-term liabilities (including the current portion of capital lease obligations)?

3. Item 3 in the 10-K discusses legal proceedings. Whole Foods references Note 16 of the Notes to Consolidate Financial Statements in Item 8 (this is the ''Commitments and Contingencies'' Note). Based on the information in Note 16, do you believe that Whole Foods is a defendant in any lawsuits? If so, do you believe that Whole Foods has recognized a contingent liability related to these current legal proceedings?

4. Calculate Whole Foods' current ratio for 2016 and 2015.

5. Discuss Whole Foods' short-term liquidity based on the values and trends of the current ratio.

6. Calculate Whole Foods' quick ratio and cash ratio for 2016 and 2015.

7. Discuss the implications of these ratios when evaluating Whole Foods' short-term liquidity.

8. Calculate Whole Foods' operating cash flows ratio.

9. Discuss the implications of this ratio when evaluating Whole Foods' short-term liquidity.