Problem 4-7 Financial Ratios (LO3) Here are simplified financial statements for Phone Corporation in 2020: BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities Receivables Inventonies Other current assets Total current assets: Net property, plant, and equipment Other long-term assets Total assets Liabilities and shareholders' equity Payables \begin{tabular}{rr} $82 & $151 \\ 2,032 & 2,350 \\ 152 & 203 \\ 832 & 897 \\ \hline$3,098 & 3,601 \\ 19,903 & 19,845 \\ 4,146 & $27,760 \\ \hline$27,147 & \\ \hline \end{tabular} Short-term debt Other current liabilities Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders' equity Total liabilities and shareholders' equity \begin{tabular}{rr} $2,494 & $2,970 \\ 1,384 & 1,538 \\ 776 & 752 \\ \hline$4,654 & 5,260 \\ 8,761 & 6,086 \\ 6,108 & 7,079 \\ 7,624 & $27,146 \\ \hline 27,147 & $ \\ \hline \end{tabular} Calculate the following financlal ratios for Phone Corporation: Note: Use 365 doys in o year. Do not round intermediate calculations. Round your final answers to 2 decimal places. Here are simplified financial statements for Phone Corporation in 2020 : BALANCE SHEET (Figures in \$ millions) Assets End of Year Start of Year Cash and marketable securities Receivables Inventories Other current assets Total current assets Net property, plant, and equipment Other long-term assets Total assets \begin{tabular}{rr} $82 & $151 \\ 2,032 & 2,350 \\ 152 & 203 \\ 832 & $97 \\ \hline$3,098 & 19,601 \\ 19,903 & 3,700 \\ \hline 4,146 & $27,146 \\ \hline$27,147 & \\ \hline \end{tabular} Liabilities and shareholders' equity Payables Short-term debt other current liabilities Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders' equity Total liabilities and shareholders' equity \begin{tabular}{rr} \hline$2,494 & $2,970 \\ 1,384 & 1,538 \\ 776 & 752 \\ \hline$4,654 & $5,260 \\ 8,761 & 8,086 \\ 6,108 & 6,079 \\ 7,624 & 7,721 \\ \hline$27,147 & $27,146 \\ \hline \end{tabular} Calculate the following financial ratios for Phone Corporation: Note: Use 365 days in a year. Do not round intermediate colculations. Round your final answers to 2 decimal places