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

INCOME STATEMENT
(Figures in $ millions)
Net sales	$	12,300
Cost of goods sold		3,610
Other expenses		4,022
Depreciation		2,248
Earnings before interest and taxes (EBIT)	$	2,420
Interest expense		640
Income before tax	$	1,780
Taxes (at 35%)		623
Net income	$	1,157
Dividends	$	756

BALANCE SHEET
(Figures in $ millions)
	End of Year				Start of Year
Assets
Cash and marketable securities	$	80			$	149
Receivables		1,932				2,310
Inventories		142				193
Other current assets		822				887
Total current assets	$	2,976			$	3,539
Net property, plant, and equipment		19,883				19,825
Other long-term assets		4,126				3,680
Total assets	$	26,985			$	27,044
Liabilities and shareholders equity
Payables	$	2,474			$	2,950
Short-term debt		1,374				1,528
Other current liabilities		766				742
Total current liabilities	$	4,614			$	5,220
Long-term debt and leases		9,259				8,444
Other long-term liabilities		6,088				6,059
Shareholders equity		7,024				7,321
Total liabilities and shareholders equity	$	26,985			$	27,044

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)	16.13	%
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)		days
e.	Inventory turnover (use start-of-year balance sheet figures)
f.	Average collection period (use start-of-year balance sheet figures)		days
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)