Long-term debt ratio	0.2
Times interest earned	8.0
Current ratio	1.5
Quick ratio	1.0
Cash ratio	0.9
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: 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	17.00
Depreciation	27.00
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		$			$ 27
Accounts receivable		$			41
Inventories		$			33
Total current assets		$			$ 101
Net property, plant, and equipment		$			32
Total assets		$			$133
Liabilities and shareholders equity
Accounts payable		$20.00			$ 15
Notes payable		30.00			35
Total current liabilities		$			50
Long-term debt		$			27
Shareholders equity		$			56
Total liabilities and shareholders equity		$195.00			$133