For Theta Industries, the financial details are as follows:
•Revenue: $45 million
•Cost of Goods Sold: $25 million
•Operating Expenses: $9 million
•Net Income: $4.5 million
•Total Assets: $55 million
•Total Liabilities: $22 million
•Requirements:
oCalculate the gross profit.
oDetermine the operating profit.
oCompute the return on assets (ROA) and the current ratio (assuming current liabilities are $5.5 million and current assets are $11 million).