Nokia Corporation is a global leader in providing integrated communications and electronic solutions for businesses. Its financial statements reported the following at year-end (in millions of...

Nokia Corporation is a global leader in providing integrated communications and electronic solutions for businesses. Its financial statements reported the following at year-end (in millions of euros): Average total assets …………………………… € 35,738 Average total debt (2% interest) ………………20,989 Net earnings (average tax rate 30%) ………….. 260 Required: Compute the financial leverage percentage. Was it positive or negative? View Solution:

Nokia Corporation is a global leader in providing integrated communications