Nokia Corporation is a global leader in providing integrated communications and electronic solutions for businesses. Its financial statements reported the following at year-end (in millions of euros): Average total assets. Average total debt (2% interest) Net earnings (average tax rate 30%) 35,738 20,989 260 Required: 1. Compute the financial leverage percentage. (Round the final answer to 2 decimal places.) Financial leverage percentage

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Nokia Corporation is a global leader in providing integrated communications and electronic solutions for businesses. Its financial
statements reported the following at year-end (in millions of euros):
Average total assets.
Average total debt (2% interest).
Net earnings (average tax rate 30%)
35,738
20,989
260
Required:
1. Compute the financial leverage percentage. (Round the final answer to 2 decimal places.)
Financial leverage percentage
Transcribed Image Text:Nokia Corporation is a global leader in providing integrated communications and electronic solutions for businesses. Its financial statements reported the following at year-end (in millions of euros): Average total assets. Average total debt (2% interest). Net earnings (average tax rate 30%) 35,738 20,989 260 Required: 1. Compute the financial leverage percentage. (Round the final answer to 2 decimal places.) Financial leverage percentage
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