Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figuren in 5 millions) Net Bales $ 13,600 Cost of goods sold 4,310 Other expenses 4,162 Depreciation 2,668 Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 308) Net income Dividends $ 2,460 710 $ 1,750 525 $ 1,225 $ 906 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities 94 163 2,632 212 2,590 263 892 957 $ 3,973 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 $ 3,830 20,023 4,266 19,965 3,820 $ 27,758 $ 3,090 1,598 812 $ 28,119 $ 2,614 1,444 836 $ 4,894 5,773 6,228 11,224 $ 5,500 5,938 6,199 10,121 $ 28,119 $ 27,758 Calculate the following financial ratios for Phone Corporation: (Use 365 days in a year. Do not round intermediate c Round your final answers to 2 decimal places.) 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.) Retum on equity (use average balance sheet figures) b. Return on assets (use average balance sheet figures) Rebum on capital (use average balance sheet figures) d. Days in Inventory (use start-of-year balance sheet figures) Inventory turnover (use start-of-year balance sheet figures) 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) Total debit ratio (use end-of-year balance sheet figures) Times interest earned Cash coverage ratio Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures) days days %