Problem $4-7$ Financial Ratios $($LO$3)$

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

INCOME STATEMENT

BALANCE SHEET

$($Figures in $ millions$)$

End of Start of

Year Year

Assets

Cash and marketable securities

Receivables

Inventories

Other current assets

Total current assets

Net property, plant, and equipment

other long$-$term assets

Total assets

Liabilities and shareholders' equity

Payables

Short$-$term debt

other current liabilities

Total current liabilities

Long$-$term debt and leases

other long$-$term liabilities

Shareholders' equity

Total liabilities and shareholders' equity

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.$)$