Here are simplified financial statements for Phone Corporation in 2020: INCOME STATEMENT (Pigures in 1 millions) Net sales Cost of goods sold Other expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 214) Net income Dividends BALANCE SHEET $ 12,700 3,810 4.112 2,388 $2,410 000 $1,750 308 $3,382 Assets Cash and marketable securities Receivables Inventories Other current assets Total current assets (Figures in 5 millions) End of Year Start of Year $84 $ 153 2,122 2,390 102 213 842 907 $ 3,220 $ 3,003 19, 923 4,100 19, 805 3,720 $27,309 $ 27,248 Net property, plant, and equipment Other long-term assets Total assets Liabilities and shareholders' equity Fayables Short-term debt Other current liabilities Total current liabilities Long-term debt and leases Other long-term liabilities shareholders' equity Total liabilities and shareholders' equity Calculate the following financial ratios for Phone Corporation: $2.990 1.548 702 $3,300 7,728 6,099 8, 121 $3,514 1,394 $4,094 8, 203 8. 224 $ 27,309 $ 27,248 Note: Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places. 8. Return on equity (use average balance sheet figures) 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) % % % days days % 1. Total debt ratio (use end-of-year balance sheet figures) J. Times interest earned k. Cash coverage ration 1. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures)