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 35,738 Average total debt (2 interest) 20,989 Net earnings (average tax rate 30...

Nokia Corporation is a global leader in providing integrated communications and electronic solutions for businesses. Its financial

Question:

Nokia is a global leader in providing integrated communications and electronic solutions for businesses. Its reported the following at year-end (in millions of euros):
Average total assets ................................. € 35,738
Average total debt (2% interest) .................. 20,989
Net earnings (average tax rate 30%) .............. 260
Required:
Compute the financial leverage percentage. Was it positive or negative?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...