A set of condensed balance sheets for International Harvester Company and Subsidiaries for each of the years 1967 through 1976 is presented in Exhibit Dc Using only the information provided in these comparative balance sheets, describe the major changes that have occurred in the structure of this firm’s assets and equities during this 10-year period.

(Hint: You might want to begin by expressing various balance sheet components as a percentage of other components. For example, current assets are 62.3 percent of total assets at the end of the 1976 accounting period.)