Financial Ratios. Here are simplified financial statements for Phone Corporation in a recent year:

INCOME STATEMENT (Figures in S millions)
Net sales	13,193
Cost of goods sold	4,060
Other expenses	4,049
Depreciation	2,518
Earnings before interest and taxes (EBIT)	2,566
Interest expense	685
Income before tax	1,881
Taxes (at 35%)	658
Net income	1,223
Dividends	856

BALANCE SHEET (Figures in S millions)
	End of Year	Start of Year
Assets
Cash and marketable securities	$ 89	$ 158
Receivables	2,382	2,490
Inventories	187	238
Other current assets	867	932
Total current assets	$ 3,525	$ 3,818
Net property, plant, and equipment	19,973	19,915
Other long-term assets	4,216	3,770
Total assets	$27,714	$27,503
Liabilities and shareholders’equity
Payables	$ 2,564	$ 3,040
Short-term debt	1,419	1,573
Other current liabilities	811	787
Total current liabilities	$ 4,794	$ 5,400
Long-term debt and leases	7,018	6,833
Other long-term liabilities	6,178	6,149
Shareholders’equity	9,724	9,121
Total liabilities and shareholders’ equity	$27,714	$27,503

Calculate the following financial ratios for Phone Corporation:

a. Return on equity

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b. Return on assets

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c. Return on capital

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d. Days in inventory

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e. Inventory turnover

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f. Average collection period

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g. Operating profit margin

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h. Long-term debt ratio

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i. Total debt ratio

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j. Times interest earned

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k. Cash coverage ratio

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l. Current ratio

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m. Quick ratio