Long-term debt ratio	0.3
Times interest earned	10.0
Current ratio	1.1
Quick ratio	1.0
Cash ratio	0.4
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	$195.00
Cost of goods sold	93.00
Selling, general, and administrative expenses	15.00
Depreciation	25.00
Earnings before interest and taxes (EBIT)	$62.00
Interest expense	6.20
Income before tax	$55.80
Tax (35% of income before tax)	19.53
Net income	$36.27

BALANCE SHEET
(Figures in $ millions)
	This Year	Last Year
Assets
Cash and marketable securities		$25
Accounts receivable		39
Inventories		31
Total current assets		$95
Net property, plant, and equipment		30
Total assets		$125
Liabilities and shareholders equity
Accounts payable	$40.00	$35
Notes payable	45.00	50
Total current liabilities		$85
Long-term debt		25
Shareholders equity		15
Total liabilities and shareholders equity	$170.00	$125