Problem $29-2$ Performance measures

Keller Cosmetics maintains an operating profit margin of $8\mathrm{.}80\%$ and a sales$-$to$-$assets ratio of $3\mathrm{.}05.$ It has assets of $$610,000$ and equity

of $$410,000.$ Assume that interest payments are $$41,000$ and the tax rate is $30\%.$

a$.$ What is the return on assets?

b$.$ What is the return on equity?

Note: For all requirement, enter your answers as a percent rounded to $2$ decimal places.