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(Analyzing Profitability) In2016, the Allen Corporation had sales of $ $69 million, total assets of $ $45 million, and total liabilities of $16…

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​(Analyzing Profitability) In​ 2016, the Allen Corporation had sales of $$69 ​million, total assets of $ $45 ​million, and total liabilities of $16 million. The interest rate on the​ company’s debt is 6.2 ​percent, and its tax rate is 35 percent. The operating profit margin is 12 percent.

a. Compute the​ firm’s 2016 net operating income and net income.

b. Calculate the​ firm’s operating return on assets and return on equity.​ (Hint: You can assume that interest must be paid on all of the​ firm’s liabilities.)

a. Compute the​ firm’s 2016 net operating income and net income.

The​ firm’s 2016 net operating income is ​$_________ million. ​ (Round to two decimal​ places.)

 
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