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(Related to Checkpoint4.3) (Analyzing Profitability) In2016, the Allen Corporation had sales of

$68 million, total assets of $40 million, and total liabilities of $22 million. The interest rate on the company's debt is 5.8 percent, and its tax rate is 35 percent. The operating profit margin is 14

percent.

a. Compute thefirm's 2016 net operating income and net income.

b. Calculate thefirm's operating return on assets and return on equity.(Hint: You can assume that interest must be paid on all of thefirm's liabilities.)

a. Compute thefirm's 2016 net operating income and net income.

Thefirm's 2016 net operating income is______$ million. (Round to two decimalplaces.)

Thefirm's 2016 net income is $______million. (Round to two decimalplaces.)

b. Calculate thefirm's operating return on assets and return on equity.

The operating return on assets is ________% (Round to two decimalplaces.)

The return on equity is ______%. (Round to two decimalplaces.)