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Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT(Figures in $ millions)Net sales$13,500Cost of goods sold4,260Other expenses4,147Depreciation2,638Earnings before interest and

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

INCOME STATEMENT(Figures in $ millions)Net sales$13,500Cost of goods sold4,260Other expenses4,147Depreciation2,638Earnings before interest and taxes (EBIT)$2,455Interest expense705Income before tax$1,750Taxes (at 30%)525Net income$1,225Dividends$896

BALANCE SHEET(Figures in $ millions)End of YearStart of YearAssetsCash and marketable securities$93$162Receivables2,5822,570Inventories207258Other current assets887952Total current assets$3,769$3,942Net property, plant, and equipment20,01319,955Other long-term assets4,2563,810Total assets$28,038$27,707Liabilities and shareholders' equityPayables$2,604$3,080Short-term debt1,4391,593Other current liabilities831807Total current liabilities$4,874$5,480Long-term debt and leases6,0226,117Other long-term liabilities6,2186,189Shareholders' equity10,9249,921Total liabilities and shareholders' equity$28,038$27,707

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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