Question
( Evaluating profitability ) The Malia Corporation had sales in 2015 of $ 68 68 million, total assets of $ 50 50 million, and total
(Evaluating profitability) The Malia Corporation had sales in 2015 of $68
68 million, total assets of $50
50 million, and total liabilities of $ 18
$18 million. The interest rate on thecompany's debt is 6.5
6.5 percent and its tax rate is 30
30 percent. The operating profit margin was 12
12 percent. What were thecompany's operating income and netincome? What was the operating return on assets and return onequity? Assume that interest must be paid on all of the debt.
The operating income was $
8,160,000
8,160,000. (Round to the nearestdollar.)
The net income was $
nothing
. (Round to the nearestdollar.)
I NEED HELP GETTING THE NET INCOME NUMBER
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