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

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

INCOME STATEMENT(Figures in $ millions)Net sales$13,600Cost of goods sold 4,310Other expenses 4,162Depreciation 2,668Earnings before interest and taxes (EBIT)$2,460Interest expense 710Income before tax$1,750Taxes (at 30%) 525Net income$1,225Dividends$906  

BALANCE SHEET(Figures in $ millions) End of Year Start of YearAssets       Cash and marketable securities$94  $163 Receivables 2,632   2,590 Inventories 212   263 Other current assets 892   957 Total current assets$3,830  $3,973 Net property, plant, and equipment 20,023   19,965 Other long-term assets 4,266   3,820 Total assets$28,119  $27,758 Liabilities and shareholders' equity       Payables$2,614  $3,090 Short-term debt 1,444   1,598 Other current liabilities 836   812 Total current liabilities$4,894  $5,500 Long-term debt and leases 5,773   5,938 Other long-term liabilities 6,228   6,199 Shareholders' equity 11,224   10,121 Total liabilities and shareholders' equity$28,119  $27,758  

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.)