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) Interest expense Income before tax $ 2,410 660 Taxes (at 218) Net income $ 1,750 368 Dividends $ 1,382 $ 826 BALANCE SHEET (Figures in $ millions). End of Year Start of Year Assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Net property, plant, and equipment Other long-term assets Total assets Liabilities and shareholders' equity Payables 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 $ 84 2,132 162 842 $ 3,220 19,923 4,166 $ 27,309 $ 2,514 1,394 786 $ 4,694 8,263 6,128 8,224 $ 27,309 $ 153 2,390 213 907 $ 3,663 19,865 3,720 $ 27,248 $ 2,990 1,548 762 $ 5,300 7,728 6,099 8,121 $ 27,248 Payables 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: $ 2,514 1,394 786 $ 2,990 1,548 762 $ 4,694 $ 5,300 8,263 7,728 6,128 6,099 8,224 8,121 $27,309 $ 27,248 Note: Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal place 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 Fures) 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) 1. Total debt ratio (use end-of-year balance sheet figures) J. Times interest earned k. Cash coverage ratio 1. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures) 11.96 % % % days days %