The Malia Corporation had sales in 2019 of $70 million, total assets of $50 million, and total liabilities of $21 million. The interest rate on the company debt is 6 percent and its tax rate is 21 percent. The operating profit margin was 11.8 percent. What were the companies operating income and net income? What was the operating return on assets and return on equity? Assume that interest must be paid on all of the debt.

Answer rating: 100% (QA)

To calculate the operating income we first need to calculate the cost of goods sold COGS We are not ... View the full answer