Over the last fiscal year a software company generated a sales revenue of $25,000,000 and net income of $1,250,000 in the past fiscal year. Its total assets are $12,500,000, and stockholders' equity is $7,500,000. a) What is the net profit margin? b) What is the return on assets (ROA)? c) What is the return on equity (ROE)?

d) The total debt ratio is currently 40%. If the net income and total assets stay the same, but new shares are issued to pay off the debt, and the total debt ratio decreases to 20%, what would the return on equity be now? Note: Please express all the ratios as percentages and keep two digits after the decimal point (e.g. 12.34% or 1.23%