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.)

INCOME STATEMENT
(Figures in $ millions)
Net sales
Cost of goods sold
Selling, general, and administrative expenses	11.00
Depreciation	21.00
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		$21
Accounts receivable		35
Inventories		27
Total current assets		$83
Net property, plant, and equipment		26
Total assets		$109
Liabilities and shareholders equity
Accounts payable	$20.00	$15
Notes payable	25.00	30
Total current liabilities		$45
Long-term debt		21
Shareholders equity		43
Total liabilities and shareholders equity	$125.00	$109