Here are simplified financial statements of Phone Corporation from a recent year: INCOME STATEMENT (Figures in millions

Here are simplified financial statements of Phone Corporation from a recent year:

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INCOME STATEMENT (Figures in millions of dollars) Net sales Cost of goods sold Other e Depreciation Earnings before interest and taxes Interest expense Income before tax Taxe Net income Dividends $13,193.00 4,060.00 4,049.00 2,518.00 2,566.00 685.00 1,881.00 658.00 1,223.00 S 856.00 35.00% BALANCE SHEET (Figures in millions of dollars) End of Year Start of Year S 89.00 S158.00 2,490.00 238.00 932.00 3,818.00 19.973.00 19,915.00 4,216.003,770.00 27,714.0027,503.00 Assets Cash and marketable securities Receivables Inventories Other current assets 2,382.00 187.00 867.00 3,525.00 Total current assets Net Other long-term assets Total assets lant, and e Liabilities and shareholders' e Payables Short-term debt Other current liabilities 3,040.00 1,419.001,573.00 787.00 5,400.00 6,833.00 6,149.00 9,121.00 Total liabilities and shareholders' equityS27.714.00S 27.503.00 2.564.00 Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders' equity 811.00 4,794.00 7,018.00 6,178.00 9,724.00