This problem asks you to evaluate a major increase in financial leverage on the part of Avon Products, Inc. The company’s financial statements for 2001–2003 and specific questions are available for download at www.mhhe.com/higgins10e. (Select Student Edition > Choose a Chapter > Files.) You may also find it useful to consult the company’s past annual reports (10-Ks), available at www.secinfo.com.
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