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i almost have it, but i dont remember how to calculate the return on assets You are considering a stock investment in one of two

i almost have it, but i dont remember how to calculate the return on assets image text in transcribed
You are considering a stock investment in one of two firms (NoEquity, Inc. and NoDebt, Inc.), both of which operate in the same industry and have identical operating income of $18.5 million. NoEquity, Inc. finances its $50 million in assets with $49 million in debt (on which it pays 10 percent interest annually) and $1 million in equity. NoDebt, Incfinances its $50 million in assets with no debt and $50 million in equity. Both firms pay a tax rate of 30 percent on their taxable income. Calculate the net income and return on assets for the two firms (Enter your dollar answers in millions of dollars. Round all answers to 2 decimal places.) I $ NoEquity 9.52 million % Net income Return on assets $ NoDebt 12.95 million 25,90%

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