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

INCOME STATEMENT (Figures in millions of dollars)
Net sales	12,900
Cost of goods sold	3,910
Other expenses	4,132
Depreciation	2,428
Earnings before interest and taxes (EBIT)	2,430
Interest expense	670
Income before tax	1,760
Taxes (at 35%)	616
Net income	1,144
Dividends	846

BALANCE SHEET (Figures in millions of dollars)
	End of Year	Start of Year
Assets
Cash and marketable securities	86	155
Receivables	2,232	2,430
Inventories	172	223
Other current assets	852	917
Total current assets	3,342	3,725
Net property, plant, and equipment	19,943	19,885
Other long-term assets	4,186	3,740
Total assets	27,471	27,350
Liabilities and shareholders equity
Payables	2,534	3,010
Short-term debt	1,404	1,558
Other current liabilities	796	772
Total current liabilities	4,734	5,340
Long-term debt and leases	7,765	7,370
Other long-term liabilities	6,148	6,119
Shareholders equity	8,824	8,521
Total liabilities and shareholders equity	27,471	27,350

Calculate the following financial ratios: (Use 365 days in a year. Do not round intermediate calculations.Round your answers to 2 decimal places.)

a.	Long-term debt ratio
b.	Total debt ratio
c.	Times interest earned
d.	Cash coverage ratio
e.	Current ratio
f.	Quick ratio
g.	Operating profit margin		%
h.	Inventory turnover
i.	Days in inventory		days
j.	Average collection period		days
k.	Return on equity		%*
l.	Return on assets		%
m.	Return on capital		%**
n.	Payout ratio

* - use average equity ** - use average capital