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

INCOME STATEMENT
(Figures in $ millions)
Net sales	$	13,300
Cost of goods sold		4,160
Other expenses		4,087
Depreciation		2,578
Earnings before interest and taxes (EBIT)	$	2,475
Interest expense		695
Income before tax	$	1,780
Taxes (at 30%)		534
Net income	$	1,246
Dividends	$	876

BALANCE SHEET
(Figures in $ millions)
	End of Year				Start of Year
Assets
Cash and marketable securities	$	91			$	160
Receivables		2,482				2,530
Inventories		197				248
Other current assets		877				942
Total current assets	$	3,647			$	3,880
Net property, plant, and equipment		19,993				19,935
Other long-term assets		4,236				3,790
Total assets	$	27,876			$	27,605
Liabilities and shareholders equity
Payables	$	2,584			$	3,060
Short-term debt		1,429				1,583
Other current liabilities		821				797
Total current liabilities	$	4,834			$	5,440
Long-term debt and leases		6,520				6,475
Other long-term liabilities		6,198				6,169
Shareholders equity		10,324				9,521
Total liabilities and shareholders equity	$	27,876			$	27,605

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)	12.56	%
b.	Return on assets (use average balance sheet figures)	6.25	%
c.	Return on capital (use average balance sheet figures)		%
d.	Days in inventory (use start-of-year balance sheet figures)	21.76	days
e.	Inventory turnover (use start-of-year balance sheet figures)	16.77
f.	Average collection period (use start-of-year balance sheet figures)	69.43	days
g.	Operating profit margin	13.03	%
h.	Long-term debt ratio (use end-of-year balance sheet figures)
i.	Total debt ratio (use end-of-year balance sheet figures)	0.63
j.	Times interest earned	3.56
k.	Cash coverage ratio
l.	Current ratio (use end-of-year balance sheet figures)	0.75
m.	Quick ratio (use end-of-year balance sheet figures)