Problem 4-7 Financial Ratios (LO3) Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Other expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes (at 308) Net income Dividends $ 13,000 3,960 4,037 2,458 $ 2,545 675 $ 1,870 561 $ 1,309 $ 856 BALANCE SHEET (Figures in $ millions) End of Year Start of Year 87 2,282 177 857 $ 3,403 19,953 4,196 $ 27,552 $ 156 2,450 228 922 $ 3,756 19,895 3,750 $ 27,401 Assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Net property, plant, and equipment Other long-term assets Total assets 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 $ 2,544 1,409 801 $ 4,754 7,516 6,158 9,124 $ 27,552 $ 3,020 1,563 777 $ 5,360 7,191 6, 129 8,721 $ 27,401 alculations. Ca the following financial ratios for one Corporation: (Use 365 days in a year. Do not round intermediate Round your final answers to 2 decimal places.)