Here are simplified financial statements for Phone Corporation in $2020$:

INCOME STATEMENT

$($Figures in $ millions$)$

Net sales $ $12,700$

Cost of goods sold $3,810$

Other expenses $4,112$

Depreciation $2,368$

Earnings before interest and taxes $($EBIT$)$ $ $2,410$

Interest expense $660$

Income before tax $ $1,750$

Taxes $($at $21\%)368$

Net income $ $1,382$

Dividends $ $826$

BALANCE SHEET

$($Figures in $ millions$)$

End of Year Start of Year

Assets

Cash and marketable securities $ $84$ $ $153$

Receivables $2,1322,390$

Inventories $162213$

Other current assets $842907$

Total current assets $ $3,220$ $ $3,663$

Net property, plant, and equipment $19,92319,865$

Other long$-$term assets $4,1663,720$

Total assets $ $27,309$ $ $27,248$

Liabilities and shareholders$$ equity

Payables $ $2,514$ $ $2,990$

Short$-$term debt $1,3941,548$

Other current liabilities $786762$

Total current liabilities $ $4,694$ $ $5,300$

Long$-$term debt and leases $8,2637,728$

Other long$-$term liabilities $6,1286,099$

Shareholders$$ equity $8,2248,121$

Total liabilities and shareholders$$ equity $ $27,309$ $ $27,248$

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.

a$.$ Return on equity $($use average balance sheet figures$)14\mathrm{.}99$selected answer incorrect $\%$

b$.$ Return on assets $($use average balance sheet figures$)6\mathrm{.}18$selected answer incorrect $\%$

c$.$ Return on capital $($use average balance sheet figures$)10\mathrm{.}43$selected answer incorrect $\%$

d$.$ Days in inventory $($use start$-$of$-$year balance sheet figures$)20\mathrm{.}41$selected answer correct days

e$.$ Inventory turnover $($use start$-$of$-$year balance sheet figures$)17\mathrm{.}89$selected answer correct

f$.$ Average collection period $($use start$-$of$-$year balance sheet figures$)68\mathrm{.}69$selected answer correct days

g$.$ Operating profit margin $18\mathrm{.}98$selected answer incorrect $\%$

h$.$ Long$-$term debt ratio $($use end$-$of$-$year balance sheet figures$)0\mathrm{.}59$selected answer incorrect

i$.$ Total debt ratio $($use end$-$of$-$year balance sheet figures$)12\mathrm{.}96$selected answer incorrect

j$.$ Times interest earned $2\mathrm{.}86$selected answer incorrect

k$.$ Cash coverage ratio $6\mathrm{.}44$selected answer incorrect

l$.$ Current ratio $($use end$-$of$-$year balance sheet figures$)0\mathrm{.}69$selected answer correct

m$.$ Quick ratio $($use end$-$of$-$year balance sheet figures$)0\mathrm{.}65$selected answer incorrect