Refer to the observed capital structures given in Table $16\mathrm{.}7$ from Section $16\mathrm{.}9$: Observed Capital Structures of the textbook. What do you notice about the types of industries with respect to their average debt$/$equity ratios? Are certain types of industries more likely to be highly leveraged than others? What are some possible reasons for this observed segmentation? Do the operating results and tax history of the firms play a role? How about their future earnings prospects? ExplainBook value long$-$term debt$-$equity ratios for selected industries in Canada, $2019$

Source: Statistics Canada, Table $33-10-0007-01,$ "Quarterly balance sheet and income statement, by industry

$(1,000,000$; retrieved November $12,2020.$ Reproduced and distributed on an $"$as is$"$ basis with the permission

of Statistics Canada.