1) assignment-235 points Saved Here are simplified financial statements for Phone Corporation in a recent years INCOME STATEMENT (Figures in $ million) Net sales Cost of goods sold Other expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 30%) Net Income Dividends $ 12,800 3,860 4,127 2,398 $ 2,415 665 $1,750 525 $ 1,225 $ 836 BALANCE SHEET (Pigures in $ millions) End of Year Start of Year Assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Net property, plant, and equipment Other long-term assets Total assets Liabilities and shareholders' equity Payables Short-term debt Other current liabilities Total current liabilities Long-term debt and leases Other long-term liabilities 85 2,182 167 847 $ 3,281 19,933 4,176 $ 27, 390 $ 154 2,410 218 912 $ 3,694 19,875 3,730 $ 27,299 $ $ 2,524 1,399 791 $4,714 8,014 6.138 3,000 1,553 767 5,320 7,549 6.109 $