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Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales $ 13,800 Cost of goods

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

INCOME STATEMENT
(Figures in $ millions)
Net sales $ 13,800
Cost of goods sold 4,410
Other expenses 4,182
Depreciation 2,728
Earnings before interest and taxes (EBIT) $ 2,480
Interest expense 720
Income before tax $ 1,760
Taxes (at 35%) 616
Net income $ 1,144
Dividends $ 926

BALANCE SHEET
(Figures in $ millions)
End of Year Start of Year
Assets
Cash and marketable securities $ 96 $ 165
Receivables 2,732 2,630
Inventories 222 273
Other current assets 902 967
Total current assets $ 3,952 $ 4,035
Net property, plant, and equipment 20,043 19,985
Other long-term assets 4,286 3,840
Total assets $ 28,281 $ 27,860
Liabilities and shareholders equity
Payables $ 2,634 $ 3,110
Short-term debt 1,454 1,608
Other current liabilities 846 822
Total current liabilities $ 4,934 $ 5,540
Long-term debt and leases 5,275 5,580
Other long-term liabilities 6,248 6,219
Shareholders equity 11,824 10,521
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.)

b.Return on assets (use average balance sheet figures)

c.Return on capital (use average balance sheet figures)

g.Operating profit margin

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