Problem 29-2 Performance measures

Keller Cosmetics maintains an operating profit margin of 9.00% and a sales-to-assets ratio of 3.90. It has assets of $700,000 and equity of $500,000. Assume that interest payments are $50,000 and the tax rate is 30%.

What is the return on assets?

What is the return on equity?

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