(Related to Checkpoint 4.3) (Analyzing Profitability) In 2016, the Allen Corporation had sales of $65 million, total assets of $44 million, and total liabilities of $15 million. The interest rate on the company's debt is 5.9 percent, and its tax rate is 35 percent. The operating profit margin is 14 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 the firm's liabilities.) a. Compute the firm's 2016 net operating income and net income. The firm's 2016 net operating income is $| million. (Round to two decimal places.) (Related to Checkpoint 4.3) (Profitability analysis) Last year the P. M. Postem Corporation had sales of $432,000, with a cost of goods sold of $114,000. The firm's operating expenses were $127,000, and its increase in retained earnings was $86,950. There are currently 24,000 shares of common stock outstanding, the firm pays a $1.55 dividend per share, and the firm has no interest-bearing debt. a. Assuming the firm's earnings are taxed at 35 percent, construct the firm's income statement. b. Compute the firm's operating profit margin. a. Assuming the firm's earnings are taxed at 35%, construct the firm's income statement. Complete the income statement below: (Round to the nearest dollar.) Income Statement Revenues Cost of Goods Sold Gross Profit Operating Expenses Net Operating Income Interest Expense Earnings before Taxes Income Taxes Net Income TA