Long-term debt ratio 0.3 Times interest earned 8.0 Current ratio 1.4 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: 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.)

COMPLETE THE INCOME STATEMENT

Net Sales?

Cost of Goods sold?

selling, general and administrative expenses = 16.00

depreciation = 26.00

EBIT?

Interest Expense?

income before tax?

tax (35% of income before tax)?

Net Income?

COMPLETE THE BALANCE SHEET

Balance Sheet Figures in Milliions this year last year Assets Cash and marketable securities ? $26 accounts receivable ? 40 inventories ? 32 Total current assets ? $98 net property, plant, and equipment ? $129 Liabilities and shareholders equity Accounts payable $20.00 $15 Notes payable 30 $35 total current liabilities ? $50 long term debt ? $26 shareholders equity ? $53 total liabilities and shareholders equity $175.00 $129