Reference no: EM132558248

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

INCOME STATEMENT(Figures in $ millions)Net sales$13,500Cost of goods sold 4,260Other expenses 4,147Depreciation 2,638Earnings before interest and taxes (EBIT)$2,455Interest expense 705Income before tax$1,750Taxes (at 30%) 525Net income$1,225Dividends$896

BALANCE SHEET(Figures in $ millions) End of Year Start of YearAssets Cash and marketable securities$93 $162 Receivables 2,582 2,570 Inventories 207 258 Other current assets 887 952 Total current assets$3,769 $3,942 Net property, plant, and equipment 20,013 19,955 Other long-term assets 4,256 3,810 Total assets$28,038 $27,707 Liabilities and shareholders' equity Payables$2,604 $3,080 Short-term debt 1,439 1,593 Other current liabilities 831 807 Total current liabilities$4,874 $5,480 Long-term debt and leases 6,022 6,117 Other long-term liabilities 6,218 6,189 Shareholders' equity 10,924 9,921 Total liabilities and shareholders' equity$28,038 $27,707

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.)