Read the Financial Reporting Problem, The Procter & Gamble Company (P & G) (located in Chapter 5: Balance Sheet and Statement of Cash Flows, Using Ratios to Analyze Performance, Using Your Judgement on pages 5-54 and 5-55 of the textbook) and answer the questions given at the end. Answer one question at a time. Let the remainder of the class answer another question and then comment on the answers given, expressing why the answer was either correct or not correct and why Class,how the assets and liabilities are classified in the balance sheet? Discuss each and every item that is included in one classification and provide suitable examples. You can access on the internet a real company and discuss how the various items on the balance sheet are classified. 3.Now let's learn about the Cash Flow Statement. What is the purpose of Cash Flow Statement. What the three business activities for which the cash flows are computed. Discuss each activity in detail with suitable examples