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Looking at the companys short-term debt structure during FY 2014 and FY 2015, which answer best explains what happened? a. There was little change in

Looking at the companys short-term debt structure during FY 2014 and FY 2015, which answer best explains what happened?

a.

There was little change in the companys debt structure

b.

The share of debt comprised by short-term debt increased by more than 10%

c.

The share of debt comprised by short-term debt decreased by more than 10%

d.

Insufficient Information

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Selected Financial Data $ 2015 233,715 53,394 2014 182,795 39,510 $ Net sales Net income Earnings per share: Basic Diluted Cash dividends declared per share Shares used in computing earnings per share: Basic Diluted 1942 $ $ $ 9.28 9.22 1.98 000 6.49 6.45 1.82 $ 5,753,421 5,793,069 6,085,572 6,122,663 Total cash, cash equivalents and marketable securities $ Total assets Commercial paper Total term debt (2) Other long-term obligations (1) Total liabilities $ Total shareholders' equity A A A A A A A 205,666 290,479 8,499 55,963 33,427 171,124 119,355 GA GA GA GA GA GA GA $ $ $ 155,239 231.839 6,308 28,987 24,826 120,292 111,5471 $ T Select Ratio/Data Formula Current Ratio Current Assets / Current Liabilities Debt-Equity Ratio Total Liabilities/Total Shareholders' Equity Long-Term Debt Total Term Debt + Other Long-Term Obligations Net Income Margin (%) (Net Income / Net Sales) * 100

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