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

INCOME STATEMENT(Figures in $ millions)

Net sales$13,800

Cost of goods sold4,410

Other expenses4,182

Depreciation2,728

Earnings before interest and taxes (EBIT)$2,480

Interest expense720

Income before tax$1,760

Taxes (at 35%)616

Net income$1,144

Dividends$926

BALANCE SHEET(Figures in $ millions)End of YearStart of YearAssets

Cash and marketable securities $96 $165 Receivables2,7322,630

Inventories222273

Other current assets902967

Total current assets$3,952$4,035

Net property, plant, and equipment20,04319,985

Other long-term assets4,2863,840

Total assets$28,281$27,860

Liabilities and shareholders' equity

Payables$2,634$3,110

Short-term debt1,4541,608

Other current liabilities846822

Total current liabilities$4,934$5,540

Long-term debt and leases5,2755,580

Other long-term liabilities6,2486,219

Shareholders' equity11,82410,521

Total liabilities and shareholders' equity$28,281$27,860

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)10.23%

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)days

e.Inventory turnover (use start-of-year balance sheet figures)

f.Average collection period (use start-of-year balance sheet figures)days

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

l.Current ratio (use end-of-year balance sheet figures)

m.Quick ratio (use end-of-year balance sheet figures)