The following partial income statement and balance sheet information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2016:

	Year ended 12/31/2016
Net sales		15,719
Total operating revenue		15,719
Cost of goods sold		9,878
Sales, general & administrative		2,539
Interest expense		766
Income before tax		1,017
Net income		840

	12/31/2016			12/31/2015
Cash and cash equivalents		1,325			134
Receivables, net		2,970			985
Inventories		1,825			1,009
Land, buildings and equipment at cost, net		20,920			12,207
Total assets		27,040			14,335
Accounts payable		10,424			8,965
Total current liabilities		10,424			8,965
Long-term debt		9,161			4,531
Deferred income taxes		729			773
Total liabilities		20,314			14,269
Minority interest		588			0
Retained earnings		6,138			66
Total stockholders' equity		6,726			66

20.

Required information

Required:

Compute the profit margin on sales for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)

21.

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Required:

Compute the receivables turnover ratio for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)

22.

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Compute the inventory turnover ratio for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)

23.

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Compute the asset turnover ratio for 2016 of Saratoga Springs Co. (Round your answer to 2 decimal places.)

24.

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Required:

Compute the average collection period for 2016 of Saratoga Springs Co. (Round your intermediate and final answers to 1 decimal place. Use 365 days a year.)

25.

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Compute the average days in inventory for 2016 of Saratoga Springs Co. (Round your intermediate and final answers to 1 decimal place. Use 365 days a year.)

26.

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Compute the return on assets for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)

27.

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Required:

Compute the return on stockholders' equity for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)