The financial statements of M&S (GBR) are presented in Appendix A. The company's complete annual report, including the notes to the financial statements, is available online.
Instructions
Refer to M&S's financial statements and the accompanying notes to answer the following questions.
a. What was the composition of M&S's borrowings and other financial liabilities shown in its current liability section at April 2, 2016?
b. What was M&S's April 2, 2016 working capital and current ratio? Comment on M&S's liquidity.
c. What types of commitments and contingencies has M&S reported in its financial statements? What is management's reaction to these contingencies?