The financial statements of TSMC are presented in Appendix A at the end of this textbook. The complete annual report, including the notes to the financial statements, is available at the company’s website.

Instructions
Answer the questions below using the statement of financial position and the notes to consolidated financial statements section.
a. What were TSMC’s total current assets at December 31, 2015, and December 31, 2016?
b. Are assets that TSMC included under current assets listed in proper order? Explain.
c. How are TSMC’s assets classified?
d. What are “cash equivalents”?
e. What were TSMC’s total current liabilities at December 31, 2015, and December 31, 2016?