For Iota Holdings, the financial details are as follows:
•Revenue: $28 million
•Cost of Goods Sold: $16 million
•Operating Expenses: $6 million
•Net Income: $2.8 million
•Total Assets: $36 million
•Total Liabilities: $14 million
•Requirements:
oCalculate the gross profit.
oDetermine the operating profit.
oCompute the return on assets (ROA) and the current ratio (assuming current liabilities are $3.6 million and current assets are $7.2 million).