Here are simplified financial statements for Phone Corporation in 2020:

INCOME STATEMENT
(Figures in $ millions)
Net sales	$ 13,700
Cost of goods sold	4,360
Other expenses	4,047
Depreciation	2,698
Earnings before interest and taxes (EBIT)	$ 2,595
Interest expense	715
Income before tax	$ 1,880
Taxes (at 21%)	395
Net income	$ 1,485
Dividends	$ 916

BALANCE SHEET
(Figures in $ millions)
	End of Year	Start of Year
Assets
Cash and marketable securities	$ 95	$ 164
Receivables	2,682	2,610
Inventories	217	268
Other current assets	897	962
Total current assets	$ 3,891	$ 4,004
Net property, plant, and equipment	20,033	19,975
Other long-term assets	4,276	3,830
Total assets	$ 28,200	$ 27,809
Liabilities and shareholders equity
Payables	$ 2,624	$ 3,100
Short-term debt	1,449	1,603
Other current liabilities	841	817
Total current liabilities	$ 4,914	$ 5,520
Long-term debt and leases	5,524	5,759
Other long-term liabilities	6,238	6,209
Shareholders equity	11,524	10,321
Total liabilities and shareholders equity	$ 28,200	$ 27,809

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) 13.60 % b. Return on assets (use average balance sheet figures) 7.32 % c. Return on capital (use average balance sheet figures) 12.38 % d. Days in inventory (use start-of-year balance sheet figures) 22.44 days e. Inventory turnover (use start-of-year balance sheet figures) 16.27 f. Average collection period (use start-of-year balance sheet figures) 69.54 days g. Operating profit margin Answer? % h. Long-term debt ratio (use end-of-year balance sheet figures) Answer? i. Total debt ratio (use end-of-year balance sheet figures) Answer? j. Times interest earned Answer? k. Cash coverage ratio Answer? l. Current ratio (use end-of-year balance sheet figures) Answer? m. Quick ratio (use end-of-year balance sheet figures) Answer?