F o c u s o n F i n a n c i a l S t a t e m e n t s O n l i n eFFS 13-2FFS 13-3FFS 13-4C h a p t e r 1 3RequiredAnswer the following questions by referring to the December 31, 2002, balance sheets foreach of Leon’s and WestJet on pages I-3 and I-12 in the textbook, respectively.1.Leon’s shows Customers’ depositsof $6,664 (thousand) under current liabilities.Explain what this is and why it is classified as a current liability.2.WestJet shows Advance ticket salesof $44,195 (thousand) under current liabilities.Explain what this is.3.WestJet shows Current portion of long-term debtof $32,674 (thousand) under currentliabilities. Explain what this is and why it is classified as a current liability. Why issome of the debt listed as a current liability and the balance as long-term debt?Located in Burnaby, British Colombia, Ballard Power Systems Inc.produces zero-emissionfuel cells. RequiredAnswer the following questions by referring to Ballard’s 2002 financial statements.
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