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1. Your company had $75 million in sales in 2021 and $29 million in operating expenses, along with total assets of $42 million and total
1. Your company had $75 million in sales in 2021 and $29 million in operating expenses, along with total assets of $42 million and total debt of $25 million. The operating profit margin was 14 percent for the year. a. If the company's tax rate is 30 percent and the interest rate on company debt is 5 percent, what was the 2021 value of operating income and net income? Assume that this year's interest must be paid in full on all of the debt. (5 points) b. What were the gross and net profit margins? Report the percentages incorporating two decimal places (e.g., 3.35%). (2 points)
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