Here are simplified financial statements for Phone Corporation in a recent year. INCOME STATEMENT (Figures in $ millions) Net sales $ 13,193 Cost of goods sold 4,060 Other expenses 4,049 Depreciation 2,518 Earnings before interest and taxes (EBIT) $ 2,566 Interest expense 685 Income before tax $ 1,881 Taxes (at 35%) 658 Net income $ 1.223 Dividends $ 856 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities $ 89 $ 158 Receivables 2,382 2,490 Inventories 187 238 Other current assets 867 932 $ 3,525 19,973 4,216 $ 3,818 19,915 3,770 $ 27,503 $ 27.714 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 $ 2,564 1.419 811 $ 3,040 1,573 787 Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders' equity $ 4,794 7,018 6,178 9,724 $5,400 6,833 6,149 9,121 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.) % % days 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) e. Inventory turnover (Use beginning inventory.) 1. Average collection period (Use beginning receivables.) 9. Operating profit margin (Use after-tax operating income.) h. Long-term debt ratio (Use end of year values.) 1. Total debt ratio (Use end of year values.) Times interest eamed k. Cash coverage ratio 1. Current ratio (Use end of year values.) m. Quick ratio (Use end of year values.) days %