ces INCUTIC STATEPIENT (Figures in $ millions) Net sales $ 13,600 Cost of goods sold 4,310 Other expenses 4,162 Depreciation 2,668 Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 30%) Net income Dividends $ 2,460 710 $ 1,750 525 $ 1,225 906 BALANCE SHEET (Figures in $ millions) End of Start of Year Year Assets Cash and marketable securities $ 94 $ 163 Receivables 2,632 2,590 Other current assets Inventories Total current assets 212 263 892 957 3,830 $ 3,973 Net property, plant, and equipment 20,023 19,965 Other long-term assets 4,266 3,820 Total assets $ 28,119 $ 27,758 Liabilities and shareholders' equity Payables $ 2,614 $ 3,090 Short-term debt Other current liabilities Total current liabilities 1,444 1,598 836 812 $ 4,894 5,500 Long-term debt and leases 5,773 5,938 Other long-term liabilities 6,228 6,199 Shareholders' equity 11,224 10,121 Total liabilities and shareholders' equity 28,119 $ 27,758 Calculate the following financial ratios for Phone Corporation: (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places.) 13 a. Return on equity (use average balance sheet fiqures) b. Return on assets (use average balance sheet figures) c. Return on capital (use average balance sheet figures) d. Days in inventory (use start-of-year balance sheet figures) e. Inventory turnover (use start-of-year balance sheet figures) f. Average collection period (use start-of-year balance sheet figures) g. Operating profit margin h. Long-term debt ratio (use end-of-year balance sheet figures) 1. Total debt ratio (use end-of-year balance sheet figures) Times interest earned k. Cash coverage ratio 1. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures) 11.48 % 6.16 % 29.41 % 22.27 days 16.39 days %