Use the above information from the tables to work out the following missing entries, and then calculate the companys return on equity. Note: Turnover and the average collection period are calculated using start-of-year, not average, values. (Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.)

Please correct the incorrect answers in X.

Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.2 8.0 1.2 1.0 0.2 3.0 73 days INCOME STATEMENT $ 260.00 X 114.00 22.00 32.00 (Figures in $ millions) Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Tax (35% of income before tax) Net income $ 92.00 X 11.50 X $ 80.50 X 28.18 X $ 52.33 X BALANCE SHEET (Figures in $ millions) This Year Last Year $ 13.00 $ 32 Assets Cash and marketable securities Accounts receivable Inventories 52.00 46 45.50 X 38 $ 110.50 X $ 116 119.50 x 37 $ 230.00 $ 153 Total current assets Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Long-term debt Shareholders' equity $ 30.00 $ 25 40 $ 65 35.00 65.00$ 33.00 132.00 20 68