Merck & Co, Inc. is a world leader in the discovery, development, manufacture and market- ing of a broad range of human and animal health products. The company, which has 94,000 employees, spends over $10 billion every year on the research and development of new drugs. for ae . es As of the end of 2010, its 3.1 billion shares are valued in the stock market for a total of $111 (L.O: 7) billion. Given the following data for Merck (in millions), calculate the equity ratios for 2010 and 2009. Then comment on the results.

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Stockholders' equity...... Total equities........... 2010 $54,376 $105,781 2009 $59,058 $112,314