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.

HIGHLIGHT ANSWERS!!!

Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 10.0 1.6 73 days Use the above information from the tables to work out the following missing entries, and then calculate the company's 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.) INCOME STATEMENT (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 27.00 37.00 BALANCE SHEET (Figures in $ millions) This Year Last Year Assets 37 51 43 131 42 173 Cash and marketable securities Accounts receivable Inventories Total current assets Net property, plant, and equipment Total assets Liabilities and shareholders' equity 20 45 65 $25.00$ Accounts payable Notes payable 40.00 Total current liabilities Long-term debt Shareholders' equity 90 173 Total liabilities and shareholders' equity $ 275.00 $