Long-term debt ratio	0.3
Times interest earned	10.0
Current ratio	1.4
Quick ratio	1.0
Cash ratio	0.4
Inventory turnover	5.0
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	12.00
Depreciation	22.00
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	$	$22
Accounts receivable		36
Inventories		28
Total current assets		$86
Net property, plant, and equipment		27
Total assets		$113
Liabilities and shareholders equity
Accounts payable	$25.00	$20
Notes payable	30.00	35
Total current liabilities		$55
Long-term debt		22
Shareholders equity		36
Total liabilities and shareholders equity	$130.00	$113