Long-term debt ratio	0.1
Times interest earned	10.0
Current ratio	1.6
Quick ratio	1.0
Cash ratio	0.4
Inventory turnover	4.0
Average collection period	73	days

Use the above information from the tables to work out the following missing entries, and then calculate the companys return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values.

se the above information from the tables to work out the following missing entries, and then calculate the companys return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.

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INCOME STATEMENT
(Figures in $ millions)
Net sales
Cost of goods sold
Selling, general, and administrative expenses	26.00
Depreciation	36.00
Earnings before interest and taxes (EBIT)
Interest expense
Income before tax
Tax (35% of income before tax)
Net income

Use the above information from the tables to work out the following missing entries, and then calculate the companys return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.

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BALANCE SHEET
(Figures in $ millions)
	This Year	Last Year
Assets
Cash and marketable securities		$36.00
Accounts receivable		50.00
Inventories		42.00
Total current assets		$128.00
Net property, plant, and equipment		41.00
Total assets		$169.00
Liabilities and shareholders equity
Accounts payable	$20.00	$15.00
Notes payable	35.00	40.00
Total current liabilities		$55.00
Long-term debt		20.00
Shareholders equity		94.00
Total liabilities and shareholders equity	$270.00	$169.0