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 35%) Net income Dividends $ 12,300e 3,610 4,022 2,248 $ 2,420 640 $ 1,780 623 $ 1,157 $ 756 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities Receivables Inventories Othercurrent assets 80 1,932 142 822 149 2,310 193 Total current assets Net property, plant, and equipment Other long-term assets 19,883 4,126 $ 2,976 3,539 19,825 3,680 Total assets $ 26,985 27,044 Liabilities and shareholders' equity Payables Short-term debt Other current liabilities $ 2,4742,950 1,528 742 $ 4,614 5,220 8,444 6,059 7,321 $ 26,985 27,044 1,374 766 Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders equity 9,259 6,088 7,024 Total liabilities and shareholders' equity 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) 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-year balance sheet figures) i. Total debt ratio (use end-of-year balance sheet figures) j. Times interest earned k. Cash coverage ratio I. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures) days days