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Homework: Measuring Corporate Performance Assi... Saved 4 Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT 2.5 (Figures in $ millions) points Net sales $ 13,300 Cost of goods sold 4, 160 Other expenses 4, 087 Depreciation 2, 578 eBook Earnings before interest and taxes (EBIT) $ 2,475 Interest expense 695 Print Income before tax 1, 780 Taxes (at 30%) 534 Net income $ 1, 246 Dividends $ 876 BALANCE SHEET (Figures in $ millions) End of Start of Year Year Assets Cash and marketable securities 91 $ 160 Receivables 2, 482 2,530 Inventories 197 248 Other current assets 877 942 Total current assets $ 3, 647 $ 3,880 Net property, plant, and equipment 19,993 19,935Homework: Measuring Corporate Performance Assi... 0 Saved Help BALANCE SHEET (Figures in $ millions) End of Start of Year Year Assets 2'5 Cash and marketable securities $ 91 $ 160 90""35 Receivables 2,482 2,530 Inventories 197ll 248 Other current assets 3?? 942 eBook Total current assets $ 3,647 $ 3,380 Net property, plant, and equipment 19,993 19,935 Print Other longterm assets 4,236 3,?90 Total assets 5 2?,376 $ 2?,605 Liabilities and shareholders' equity Pay-ables $ 2,584 $ 3,860 Shortterm debt 1,429 1,583 Other current liabilities 321 ?97 Total current liabilities $ 4,334 $ 5,440 Longterm debt and leases 6,520 6,475 Other longterm liabilities 6,198 6,169 Shareholders' equityr 18,324 9,521 Total liabilities and shareholders' equity $ 2?,376 $ 2?,605 Calculate the following nancial ratios for Phone Corporation: {Use 365 days in a year. Do not round intermediate calculations. Round your nal answers to 2 decimal places.) Homework: Measuring Corporate Performance Assi... Saved Help 4 Calculate the following financial ratios for Phone Corporation: (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places.) 2.5 a. Return on equity (use average balance sheet figures) % points b. Return on assets (use average balance sheet figures) C. Return on capital (use average balance sheet figures) eBook d. Days in inventory (use start-of-year balance sheet figures) 21.76 days Print e. Inventory turnover (use start-of-year balance sheet figures) 16.77 f. Average collection period (use start-of-year balance sheet figures) 69.43 days g- Operating profit margin h. Long-term debt ratio (use end-of-year balance sheet figures) i. Total debt ratio (use end-of-year balance sheet figures) 0.63 j. Times interest earned 3.56 k. Cash coverage ratio 7.27 1. Current ratio (use end-of-year balance sheet figures) 0.75 m. Quick ratio (use end-of-year balance sheet figures) 0.53