You are considering a stock investment in one of two firms (No Equity, Inc., and No Debt, Inc.), both of which operate in the same industry and have identical operating income of $32.5 million. No Equity, Inc., finances its $65 million in assets with $64 million in debt (on which it pays 10 percent interest annually) and $1 million in equity. No Debt, Inc., finances its $65 million in assets with no debt and $65 million in equity. Both firms pay a tax rate of 30 percent on their taxable income. Calculate the net income and return on assets for the two firms.