There are no universally accepted definitions of financial ratios, but some of the following ratios make no sense at all. Substitute correct definitions and then explain what each ratio measures.

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long-term debt long-term debt + equity a. Debt-equity ratio sales b. Return on equity average equity after-tax operating income c. Operating profit margin sales d. Inventory turnover total sales average inventory e. Current ratio = current liabilities current assets f. Average collection period revenues average receivables/365 cash and cash current other trade equivalents investments receivables g. Quick ratio current liabilities