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Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales $ 13,300 Cost of goods

Here are simplified financial statements for Phone Corporation in a recent year:

INCOME STATEMENT
(Figures in $ millions)
Net sales $ 13,300
Cost of goods sold 4,160
Other expenses 4,087
Depreciation 2,578
Earnings before interest and taxes (EBIT) $ 2,475
Interest expense 695
Income before tax $ 1,780
Taxes (at 30%) 534
Net income $ 1,246
Dividends $ 876

BALANCE SHEET
(Figures in $ millions)
End of Year Start of Year
Assets
Cash and marketable securities $ 91 $ 160
Receivables 2,482 2,530
Inventories 197 248
Other current assets 877 942
Total current assets $ 3,647 $ 3,880
Net property, plant, and equipment 19,993 19,935
Other long-term assets 4,236 3,790
Total assets $ 27,876 $ 27,605
Liabilities and shareholders equity
Payables $ 2,584 $ 3,060
Short-term debt 1,429 1,583
Other current liabilities 821 797
Total current liabilities $ 4,834 $ 5,440
Long-term debt and leases 6,520 6,475
Other long-term liabilities 6,198 6,169
Shareholders equity 10,324 9,521
Total liabilities and shareholders equity $ 27,876 $ 27,605

Calculate the following financial ratios for Phone Corporation: (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places.)

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