answer the following questions.

For the year ended December 31, 2019, Settles Inc. earned an ROI of 9.6%. Sales for the year were $10 million, and average asset turnover was 2.4. Average stockholders' equity was $3.4 million. Required: a. Calculate Settles |nc.'s margin and net income. (Round "Margin" answer to 1 decimal place. Enter the net income answer in dollars, i.e.. $5 million should be entered as 5,000,000.) 1). Calculate Settles |nc.'s return on equity. (Round your answer to 1 decimal place.) Margin Net income Return on equity Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019 (in millions): January January 31, 2020 31, 2019 Current Assets Cash $12 $ 9 Accounts receivable 5 8 Inventories 6 10 Total current assets $23 $27 Current Liabilities Note payable $ 5 $ 5 Accounts payable 5 2 Other accrued liabilities 3 3 Total current liabilities $13 $10 Required: a. Calculate the working capital and current ratio at each balance sheet date. (Enter "Working capital" in millions of dollars (i.e., 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places.) Current ratio b. Evaluate the firm's liquidity at each balance sheet date. 'A' Based on the working capital and current ratio measures, the firm has become more liquid over the 2-year period. 'A' Based on the working capital and current ratio measures, the firm has become less liquid over the 2-year period. c. Assume that the rm operated at a loss during the year ended January 31, 2020. How could cash have increased during the year? 'A' Changes in a firm's cash position and its profitability are not directly related under accrual basis of accounting. 'A' Changes in a firm's cash position and its profitability are not directly related under cash basis of accounting