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statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales $ 13,900 Cost of goods sold 4,460 Other expenses

statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales $ 13,900 Cost of goods sold 4,460 Other expenses 4,197 Depreciation 2,758 Earnings before interest and taxes (EBIT) $ 2,485 Interest expense 725 Income before tax $ 1,760 Taxes (at 30%) 528 Net income $ 1,232 Dividends $ 936 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Cash and marketable securities $ 97 $ 166 Receivables 2,782 2,650 Inventories 227 278 Other current assets 907 972 Total current assets $ 4,013 $ 4,066 Net property, plant, and equipment 20,053 19,995 Other long-term assets 4,296 3,850 Total assets $ 28,362 $ 27,911 Liabilities and shareholders equity Payables $ 2,644 $ 3,120 Short-term debt 1,459 1,613 Other current liabilities 851 827 Total current liabilities $ 4,954 $ 5,560 Long-term debt and leases 5,026 5,401 Other long-term liabilities 6,258 6,229 Shareholders equity 12,124 10,721 Total liabilities and shareholders equity $ 28,362 $ 27,911 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. what is the return on assets? what is the return on capital? what is the operating profit margin?

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