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

INCOME STATEMENT (Figures in $ millions)
Net sales	$ 12,400
Cost of goods sold	3,660
Other expenses	4,137
Depreciation	2,278
Earnings before interest and taxes (EBIT)	$ 2,325
Interest expense	645
Income before tax	$ 1,680
Taxes (at 30%)	504
Net income	$ 1,176
Dividends	$ 796

BALANCE SHEET
(Figures in $ millions)
		End of Year		Start of Year
Assets
Cash and marketable securities		$	81			$	150
Receivables			1,982				2,330
Inventories			147				198
Other current assets			827				892
Total current assets		$	3,037			$	3,570
Net property, plant, and equipment			19,893				19,835
Other long-term assets			4,136				3,690
Total assets		$	27,066			$	27,095
Liabilities and shareholders equity
Payables		$	2,484			$	2,960
Short-term debt			1,379				1,533
Other current liabilities			771				747
Total current liabilities		$	4,634			$	5,240
Long-term debt and leases			9,010				8,265
Other long-term liabilities			6,098				6,069
Shareholders equity			7,324				7,521
Total liabilities and shareholders equity		$	27,066			$	27,095

Calculate the following financial ratios for Phone Corporation:(Use 365 days in a year. Do not round intermediate calculations.Round your percentage answers "Return on equity", "Return on assets", Return on capital" and "Operating profit margin" to 2 decimal places and the rest to 2 decimal places.)

a.	Return on equity (Use average equity.)	%
b.	Return on assets (Use after-tax operating income and average assets.)	%
c.	Return on capital (Use after-tax operating income and average capital.)	%
d.	Days in inventory (Use beginning inventory.)	days
e.	Inventory turnover (Use beginning inventory.)
f.	Average collection period (Use beginning receivables.)	days
g.	Operating profit margin (Use after-tax operating income.)	%
h.	Long-term debt ratio (Use end of year values.)
i.	Total debt ratio (Use end of year values.)
j.	Times interest earned
k.	Cash coverage ratio
l.	Current ratio (Use end of year values.)
m.	Quick ratio (Use end of year values.)

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