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Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales $ 12,700 Cost of goods

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

INCOME STATEMENT
(Figures in $ millions)
Net sales $ 12,700
Cost of goods sold 3,810
Other expenses 4,112
Depreciation 2,368
Earnings before interest and taxes (EBIT) $ 2,410
Interest expense 660
Income before tax $ 1,750
Taxes (at 30%) 525
Net income $ 1,225
Dividends $ 826

BALANCE SHEET
(Figures in $ millions)
End of Year Start of Year
Assets
Cash and marketable securities $ 84 $ 153
Receivables 2,132 2,390
Inventories 162 213
Other current assets 842 907
Total current assets $ 3,220 $ 3,663
Net property, plant, and equipment 19,923 19,865
Other long-term assets 4,166 3,720
Total assets $ 27,309 $ 27,248
Liabilities and shareholders equity
Payables $ 2,514 $ 2,990
Short-term debt 1,394 1,548
Other current liabilities 786 762
Total current liabilities $ 4,694 $ 5,300
Long-term debt and leases 8,263 7,728
Other long-term liabilities 6,128 6,099
Shareholders equity 8,224 8,121
Total liabilities and shareholders equity $ 27,309 $ 27,248

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

B. Return on assets

C. Return on Capital

D. Days in Inventory

E. Inventory turnover

F. Average collection period

G. Operating profit margin

H. Long-term debt ratio

I. Total debt ratio

J. Times interest earned

K. Cash coverage ratio

L. Current ratio

M. Quick ratio

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