The TMA Questions Question One (30 Marks The following information is from the 2020 annual report of Maher Corporation, a company that supplies manufactured parts to the household appliance industry. Average total assets Average interest-bearing debt Average other liabilities Average shareholders' equity Sales Interest expense Net income 24,500,000 10,000,000 2,250,000 12,250,000 49.000.000 400,000 2,450.000 Required: 1. Compute Maher Corporation's return on assets (ROA) for 2020 if income tax rate equals 25% (10 Marks) 2. Compute the profit margin and asset turnover components of ROA for 2020 (10 Marks) 3. Maher's management believes that various business initiatives will produce an asset turnover rate of 2.25 next year. If the profit margin next year is unchanged from 2020, what will be the company's ROA? (10 Marks)