Here are simplified financial statements for Phone Corporation in 2020:

INCOME STATEMENT(Figures in $ millions)Net sales$ 13,193Cost of goods sold4,060Other expenses4,049Depreciation2,518Earnings before interest and taxes (EBIT)$ 2,566Interest expense685Income before tax$ 1,881Taxes (at 21%)395Net income$ 1,486Dividends$ 1,040BALANCE SHEET(Figures in $ millions)End of YearStart of YearAssetsCash and marketable securities$ 89$ 158Receivables2,3822,490Inventories187238Other current assets867932Total current assets$ 3,525$ 3,818Net property, plant, and equipment19,97319,915Other long-term assets4,2163,770Total assets$ 27,714$ 27,503Liabilities and shareholders equityPayables$ 2,564$ 3,040Short-term debt1,4191,573Other current liabilities811787Total current liabilities$ 4,794$ 5,400Long-term debt and leases7,0186,833Other long-term liabilities6,1786,149Shareholders equity9,7249,121Total liabilities and shareholders equity$ 27,714$ 27,503

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)

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-the-year balance sheet figures)

i. total debt ratio (use end-of-the-year balance sheet figures)

j. times interest earned

k. cash coverage ratio

l. current ratio(use end-of-the-year balance sheet figures)

m. quick ration (use end-of-the-year balance sheet figures)