Answer the following questions by referring to the 2011 financial statements for each of Danier and WestJet in Appendix II.
1. How much of Danier’s total assets are financed by debt? by equity?
2. How much long-term debt does WestJet report on its balance sheet?
3. How much of WestJet’s total assets are financed by debt? by equity?
4. Which of the two companies has the stronger balance sheet?* Is it reasonable to compare these two balance sheets? Why or why not?