For Beta Corp, the financial details are as follows:
•Revenue: $30 million
•Cost of Goods Sold: $18 million
•Operating Expenses: $7 million
•Net Income: $3 million
•Total Assets: $35 million
•Total Liabilities: $15 million
•Requirements:
oCalculate the gross profit.
oDetermine the operating profit.
oCompute the return on assets (ROA) and the current ratio (assuming current liabilities are $4 million and current assets are $8 million).