The following table contains current assets and current liability balances for Microsoft Corporation (MSFT):

	2016	2015	2014
Cash and cash equivalents	10,339,000	6,111,000	6,714,000
Short term investments	13,323,000	17,300,000	27,447,000
Net receivables	15,606,000	13,237,000	11,256,000
Inventory	985,000	1,127,000	1,478,000
Other current assets	2,989,000	2,393,000	2,115,000
Total current assets	43,242,000	40,168,000	49,010,000
Accounts payable	12,830,000	6,612,000	9,521,000
Short/current long-term debt	0	2,741,000	0
Other current liabilities	17,056,000	14,401,000	12,921,000
Total current liabilities	29,886,000	23,754,000	22,442,000

1. Assume that you are the lead banker for the syndicate of banks that manage Microsoft Corporations line of credit. Your boss has asked that you report to him on the current state of Microsofts liquidity. How would you describe the liquidity of Microsoft in 2016? Be sure to talk about the firms current liabilities and current assets and in your description.