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4-2. (Evaluating profitability) The Malia Corporation had sales in 2019 of $65 million, total assets of $42 million, and total liabilities of $20 million. The
4-2. (Evaluating profitability) The Malia Corporation had sales in 2019 of $65 million, total assets of $42 million, and total liabilities of $20 million. The interest rate on the company's debt is 6 percent and its tax rate is 21 percent. The operating profit margin was 12 percent. What were the company's operating profits and net income? What was the operating re- turn on assets and return on equity? Assume that interest must be paid on all of the debt
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