Longcodex Pinterested cent ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.2 8.0 1.2 1.0 0.2 3.0 73 days Use the above information from the tables to work out the following missing entries, and then calculate the company's ret equity. Note: Turnover and the average collection period are calculated using start-of-year, not average, values. (Enter you millions. Round intermediate calculations and final answers to 2 decimal places.) INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Tax (35% of income before tax) Net Income 22.00 32.00 23 BALANCE SHEET (Figures in $ millions) This Year Last Year $ 32 13.00 $ 52.00 13.00 46 38 $ 78.00 $ 116 37 152.00 230.00 $ $ 153 Assets Cash and marketable securities Accounts receivable Inventories Total current assets Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Long-term debt Shareholders' equity Total liabilities and shareholders' equity $ 25 30.00 $ 35.00 40 $ 65.00 $ 65 20 68 153 $ 230.00 $ Saved Help Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.2 8.0 1.2 1.0 0.2 3.0 73 days Use the above information from the tables to work out the following missing entries, and then calculate the company equity. Note: Turnover and the average collection period are calculated using start-of-year, not average, values. (Ent millions. Round intermediate calculations and final answers to 2 decimal places.) 22.00 32.00 INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Tax (35% of income before tax) Net income BALANCE SHEET (Figures in $ millions) This Year Last Year Assets $ 32 46 38 13.00 $ 52.00 13.00 78.00 $ 152.00 230.00 $ $ 116 37 153 $ Cash and marketable securities Accounts receivable Inventories Total current assets Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Long-term debt Shareholders' equity Total liabilities and shareholders' equity $ 30.00 $ 25 40 35.00 65.00 $ 65 20 68 153 $ 230.00 $