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

INCOME STATEMENT(Figures in $ millions)

Net sales$13,000

Cost of goods sold3,960

Other expenses4,037

Depreciation2,458

Earnings before interest and taxes (EBIT)$2,545

Interest expense675

Income before tax$1,870

Taxes (at 30%)561

Net income$1,309

Dividends$856

BALANCE SHEET(Figures in $ millions)

End of Year Start of Year

Assets

Cash and marketable securities $87 $156

Receivables 2,282 2,450

Inventories 177 228

Other current assets 857 922

Total current assets $3,403 $3,756

Net property, plant, and equipment 19,953 19,895

Other long-term assets 4,196 3,750

Total assets $27,552 $27,401

Liabilities and shareholders' equity

Payables $2,544 $3,020

Short-term debt 1,409 1,563

Other current liabilities 801 777

Total current liabilities $4,754 $5,360

Long-term debt and leases 7,516 7,191

Other long-term liabilities 6,158 6,129

Shareholders' equity 9,124 8,721

Total liabilities and shareholders' equity $27,552 $27,401

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):

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):

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

f. average collection period(use start-of-year balance sheet figures):

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):