Financial Reporting Problem The Procter & Gamble Company (P&G) the notes to The financial statements of P&G are presented in Appendix B. The company's complete annual report, including the financial statements, is available online. Instructions (a) Examining each item in P&G's balance sheet, identify those items that require present value, discounting, or inter- hing the amount reported. (The accompanying notes are an additional source for this (b) information.) as being used to compute interest and present liabilities, revenues what interest rates are disclosed by (assets, there so many different interest rates applied to P&G's financial statement elements and expenses)