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In 2016, the Allen Corporation had sales of 70 million, total assets of 41 million, and total liabilities of 24 million. The interest rate on

In 2016, the Allen Corporation had sales of 70 million, total assets of 41 million, and total liabilities of 24 million. The interest rate on the company's debt is 6.2percent, and its tax rate is 35 percent. The operating profit margin is 11 percent. a. Compute the firm's 2016 net operating income and net income. b. Calculate the firm's operating return on assets and return on equity. (Hint: You can assume that interest must be paid on all of

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