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a. Calculate the Liability-to-Equity ratio for each year and the average for this industry. (5 points) b. Identify two areas of concern about this company

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a. Calculate the Liability-to-Equity ratio for each year and the average for this industry. (5 points) b. Identify two areas of concern about this company using the information below and your general observations regarding the firm's use of financial leverage and its ability to service that debt. Please label your answers. (10 points each) 2018 72% 3.5 Debt Ratio TIE 2017 69% 4 2016 66% 5.9 2015 60% 4.8 Industry Average 64% 7 2014 58% 7.2. Bond Rating (S&P) BB- BB BB+ BBB+ AA- NA LE ratio

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