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2. Wolfskill Land and Cattle, Inc. had sales in 2017 of $65 million. From its 12/31/2017 Balance Sheet you see that it had Total Assets

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2. Wolfskill Land and Cattle, Inc. had sales in 2017 of $65 million. From its 12/31/2017 Balance Sheet you see that it had Total Assets of $42 million, and Total Liabilities of \$20 million. Its Operating Profit Margin for the year was 12%, and it paid 6% interest on all liabilities. The company only pays Federal income taxes (no SALT). a. What were the company's operating profits (EBIT) for the year? b. What was the company's Net Income for the year? c. Calculate the Operating Return on Assets and tell what it means for this firm. d. Calculate the Return on Equity for the company

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