22. Now compare each firm’s structure with those of its peers. For each firm enter the Thomson ONE peer analysis module, locate the balance sheet, and scroll down to the liabilities and equity section. Record the firm’s capital components and calculate its capital structure.

Once you have the subject company’s figures, make the same calculation for the peer mean balance sheet, which represents an average of the firms in the company’s peer set. Comment on the company’s capital structure relative to the average structure in its industry.

Now identify the individual peers. Select one or two firms you recognize, make the same calculation, and compare the resulting capital structure with that of the subject firm. Is there a significant difference? If so, can you hypothesize why?