< EXERCISES Refer to the financial statements of Campbell Soup Company in Appendix A. Required: a. Determine the net change in long-term debt during Year 11. Campbell Soup b. Analyze and discuss the relative mix of debt financing for Campbell Soup. Do you think Campbell Soup has any solvency or liquidity problems? Do you think the company should have more or less debt relative to equity (or is its current financing strategy proper)? Do you think that Campbell Soup would encounter difficulty if they wanted to issue additional debt to fund an especially attractive business opportunity? EXERCISE 3-1 Interpreting and Analyzing Debt Disclosures CHECK (a) $(33.2) mil.