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

INCOME STATEMENT
(Figures in $ millions)
Net sales	$	13,600
Cost of goods sold		4,310
Other expenses		4,162
Depreciation		2,668
Earnings before interest and taxes (EBIT)	$	2,460
Interest expense		710
Income before tax	$	1,750
Taxes (at 30%)		525
Net income	$	1,225
Dividends	$	906

BALANCE SHEET
(Figures in $ millions)
	End of Year				Start of Year
Assets
Cash and marketable securities	$	94			$	163
Receivables		2,632				2,590
Inventories		212				263
Other current assets		892				957
Total current assets	$	3,830			$	3,973
Net property, plant, and equipment		20,023				19,965
Other long-term assets		4,266				3,820
Total assets	$	28,119			$	27,758
Liabilities and shareholders equity
Payables	$	2,614			$	3,090
Short-term debt		1,444				1,598
Other current liabilities		836				812
Total current liabilities	$	4,894			$	5,500
Long-term debt and leases		5,773				5,938
Other long-term liabilities		6,228				6,199
Shareholders equity		11,224				10,121
Total liabilities and shareholders equity	$	28,119			$	27,758

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.)

a. Return on equity (use average balance sheet figures) 11.48 % b. Return on assets (use average balance sheet figures) 6.16 % c. Return on capital (use average balance sheet figures) % d. Days in inventory (use start-of-year balance sheet figures) 22.27 days e. Inventory turnover (use start-of-year balance sheet figures) 16.39 f. Average collection period (use start-of-year balance sheet figures) 69.51 days g. Operating profit margin 12.66 % h. Long-term debt ratio (use end-of-year balance sheet figures) i. Total debt ratio (use end-of-year balance sheet figures) j. Times interest earned k. Cash coverage ratio l. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures)