To describe the change in long-term obligations (debt) relative to the changes in total assets and stockholders' equity, you would analyze the computed changes. You would consider whether the long-term debt has increased or decreased, how this compares to the changes in total assets and stockholders' equity, and what this might indicate about the company's financial health and leverage. If the long-term debt has decreased while assets and equity have increased, this could be seen as a positive sign. Conversely, if the long-term debt has increased significantly while assets and equity have not, this could be a cause for concern