Long-term debt ratio 0.4

Times interest earned 8.0

Current ratio 1.3

Quick ratio 1.0

Cash ratio 0.6

Inventory turnover 5.0

Average collection period 73days

Use the above information from the tables to work out the following missing entries, and then calculate the company's 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 13.00

Depreciation 23.00

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 _____-----23

Accounts receivable_____-----37

Inventories_____-----29

Total current assets_____-----89

Net property, plant, and equipment_____-----28

Total assets_____-----117

Liabilities and shareholders' equity

Accounts payable 30.00-----25

Notes payable 35.00-----40

Total current liabilities_____-----65

Long-term debt_____-----23

Shareholders' equity_____-----29

Total liabilities and shareholders' equity $135.00-----$117