$\backslash$table$[[$Liabilities and shareholders' equity$],[$Payables$,$$$2,514,$$$2,990$

Problem $4-7$ Financial Ratios $($LO$3)$

Here are simplified financial statements for Phone Corporation in a recent year:

$\backslash$table$[[\backslash$table$[[$INCOME STATEMENT$],[($Figures in $ millions$)]]],[$Net sales,$$12,700$