Case 3: Deere & Company Presented below is the SEC-mandated disclosure of contractual obligations provided by Deere & Com. pany in a recent annual report. Deere & Company reported current assets of $50,060 and total current liabilities of $21,394 at year-end. (All dollars are in millions) Aggregate Contractual Obligations The payment schedule for the company's contractual obligations at year-end in millions of dollars is as follows: Less than 1-3 4 and 5 More than Total 1 year years years 5 years Debt Equipment operations $ 5,091 $ 434 $ 270 $ 775 $3,612 Financial services 31,692 9,962 11.477 6,578 3,675 Total 36,783 10,396 11,747 7.353 7.287 Interest on debt 4.777 1,069 745 2.354 Accounts payable 2,743 2,611 90 39 Capital leases 87 39 42 Purchasing obligations 3,007 2.970 37 Operating leases 371 70 46 Total $47,768 $16,746 $13,119 $8,211 $9,692 609 3 2 4 121 134 Instructions a. Compute Deere & Company's working capital and current ratio (current assets + current liabilities) with and without the off-balance sheet contractual obligations reported in the schedule. b. Briefly discuss how the information provided in the contractual obligation disclosure would be use- ful in evaluating Deere & Company for loans (1) due in one year and (2) due in five years