Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Other expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 30%) Net income Dividends $12,800 3,860 4,127 2, 398 $ 2,415 665 $ 1,750 525 $ 1, 225 $ 836 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 $ 85 2, 182 167 847 $ 3, 281 19,933 4,176 $ 27, 390 $ 154 2,410 218 912 $ 3, 694 19,875 3,730 $ 27, 299 $ 2,524 1, 399 791 $ 4,714 8,014 6,138 8,524 $ 27, 390 $ 3,000 1,553 767 $ 5,320 7,549 6, 109 8, 321 $ 27, 299 15.00% % % days - Return on equity (use average balance sheet figures) - Return on assets (use average balance sheet figures) - Return on capital (use average balance sheet figures) Days in inventory (use start-of-year balance sheet figures) 2. Inventory tumover (use start-of-year balance sheet figures) F. Average collection period (use start-of-year balance sheet figures) 9. Operating profit margin 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 eamed k. Cash coverage ratio 1. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures) days %