Financial Analysis Brambles Ltd (ASX: BXB) You continued working at Frontier Advisors an investment advisory and consulting company as a financial analyst in the Investments Research Team. Your report on Brambles corporate governance and corporate social responsibility was well received by your client, Ultimate Super. Ultimate Super would like to be more informed about Brambles financial decisions and intrinsic value. As your second assignment, your team leader allocated you to a team to work with two other colleagues. As a team of three, you are required to deliver both a written report and a presentation to the board of directors of Ultimate Super. Your report must include the following:

1b. Capital structure

- Describe Brambles current capital structure and its trend in the last 4 years.

- Compare Brambles capital structure with that of Amcor Plc (ASX ticker: AMC) and Qube Holdings Limited (ASX ticker: QUB) and discuss the similarities and differences.

- What are the benefits and costs of using debt specific to Brambles? Does Brambles benefit from having a higher or lower leverage? Is the observed capital structure consistent with your prediction? (You should use at least one of the theories of capital structure in your discussions.)