Long-term debt ratio	0.1
Times interest earned	8.0
Current ratio	1.2
Quick ratio	1.0
Cash ratio	0.6
Inventory turnover	3.0
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: Turnover and the average collection period are calculated using start-of-year, not average, values. (Enter your answers in 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	29.00
Depreciation	39.00
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
Cash and marketable securities		$ 39
Accounts receivable		53
Inventories		45
Total current assets		$ 137
Net property, plant, and equipment		44
Total assets		$ 181
Liabilities and shareholders equity
Accounts payable	$ 35.00	$ 30
Notes payable	45.00	50
Total current liabilities		$ 80
Long-term debt		16
Shareholders equity		85
Total liabilities and shareholders equity	$ 250.00	$ 181