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Here are simplified financial statements for Phone Corporation in 2 0 2 0 : INCOME STATEMENT ( Figures in $ millions ) Net sales $

Here are simplified financial statements for Phone Corporation in 2020:
INCOME STATEMENT
(Figures in $ millions)
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 21%)370
Net income $ 1,390
Dividends $ 846
BALANCE SHEET
(Figures in $ millions)
End of Year Start of Year
Assets
Cash and marketable securities $ 86 $ 155
Receivables 2,2322,430
Inventories 172223
Other current assets 852917
Total current assets $ 3,342 $ 3,725
Net property, plant, and equipment 19,94319,885
Other long-term assets 4,1863,740
Total assets $ 27,471 $ 27,350
Liabilities and shareholders equity
Payables $ 2,534 $ 3,010
Short-term debt 1,4041,558
Other current liabilities 796772
Total current liabilities $ 4,734 $ 5,340
Long-term debt and leases 7,7657,370
Other long-term liabilities 6,1486,119
Shareholders equity 8,8248,521
Total liabilities and shareholders equity $ 27,471 $ 27,350
Calculate the following financial ratios for Phone Corporation:
Note: Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places.

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