In 2016, the Allen Corporation had sales of $60 million, total assets of $46 million, and total liabilities of $19 million. The interest rate on the...

In​ 2016, the Allen Corporation had sales of $60 million, total assets of $46 ​million, and total liabilities of $19 million. The interest rate on the​ company's debt is

5.7 ​percent, and its tax rate is 35 percent. The operating profit margin is 10 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.)