Question: Key comparative figures for Apple and Google follow. Apple Google $ millions Current Year Prior Year Current Year Prior Year Total liabilities $ 2 4

Key comparative figures for Apple and Google follow.
Apple Google
$ millions Current Year Prior Year Current Year Prior Year
Total liabilities $241,272 $193,437 $ 44,793 $ 28,461
Total assets 375,319321,686197,295167,497
Required:
1. What is the debt ratio for Apple in the current year and for the prior year?
2. What is the debt ratio for Google in the current year and for the prior year?
3. Which of the two companies has the higher degree of financial leverage in the current year?

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