Here are simplified financial statements of Phone Corporation from a recent year: INCOME STATEMENT (Figures in millions of dollars) 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 of dollars) 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: (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.) a. Long-term debt ratio b. Total debt ratio c. Times interest earned d. Cash coverage ratio e. Current ratio f. Quick ratio g. Operating profit margin % h. Inventory turnover i. Days in inventory days j. Average collection period days k. Return on equity %* l. Return on assets % m. Return on capital %** n. Payout ratio