Choose an industry. Identify the three largest firms in that industry. Obtain their most recent financial statements or summaries thereof. Obtain one or two recent articles on this industry or on the three selected firms.

Required

a. Discuss the similarities and differences in the three firms’capital structures.

b. Discuss how these firms might be changing their capital structure, especially in response to industry or market factors.

c. Discuss how the firms’ capital structures might reflect problems or opportunities in this industry.

d. Identify any inconsistencies in the firms’management of their capital structures. That is, discuss how each firm’s capital structure is responsive to both its particular circumstances and to industry and market factors. Discuss how the firm might be acting consistently and rationally relative to these factors. Discuss any inconsistencies, particularly from the viewpoint of an external analyst who has to make predictions about the future success of the company