Use Exhibit 13- 3, City of Toledo, Ohio, Ratio of Net General Bonded Debt to Assessed Value

Question:

Use Exhibit 13- 3, City of Toledo, Ohio, Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt per Capita, Last 10 Fiscal Years.

Required
a. Prepare a vertical common- size statement. Use 2001 as the base. Include assessed value, net general bonded debt, and net bonded debt per capita.
b. Comment on significant items in the vertical common- size analysis.