Consider the financial performance of Innovative Manufacturing Co.:
•Sales Revenue: $23 million
•Cost of Goods Sold: $12 million
•Administrative Expenses: $5 million
•Depreciation: $1.4 million
•Interest: $600,000
•Taxes: $1 million
•Total Assets: $29 million
•Current Assets: $11 million
•Current Liabilities: $5.5 million
Requirements:
•Calculate EBITDA.
•Determine the net income.
•Compute the current ratio and return on assets (ROA).