Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the malia corporation had sales in 2015 of $64 mil

The Malia Corporation had sales in 2015 of $64 million, total assets of $45 million,...

90.2K

Verified Solution

Question

Accounting

The Malia Corporation had sales in 2015 of $64 million, total assets of $45 million, and total liabilities of $25 million. The interest rate on the company's debt is 6.9 percent and its tax rate is 30 percent. The operating profit margin was 11 percent. What were the company's 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. The operating income was $---- (Round to the nearest dollar.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

2 Find the distance between the two points Show all work C 6 5 and...

Mechanical Engineering
1.2K views

Buckling is a problem for sheet metal used on aircraft skins and wings. Traditionally the skin...

Geometry
1.2K views

Interviewing skills require common sense and do not include Select one O O a staring...

Basic Math
1.2K views

?ABC is located in Quadrant I. Point A is 5 units to the right of...

Accounting
1.2K views

Sunlight Design Corporation sells glass vases at a wholesale price of $4.00 per unit. The...

Accounting
1.2K views

Magpie Ltd enters into a non-cancellable two-year lease agreement with Tiger Ltd for an item...

Accounting
1.2K views

2. Explain with the help of a graph how an increase in the relative price...

Accounting
1.2K views

TIHIcy Culle, NH Willockchain ! This HEHESHIMI I DHE HIHIHIRT CHECK HIH! Howy KKK STIHI...

Accounting
1.2K views

On January 1, 2021, Rare Bird Ltd. purchased 16% bonds dated January 1, 2021, with...

Accounting
1.2K views

The controller of Dash Shoes Inc. instructs you to prepare a monthly cash budget for...

Accounting
1.2K views

The following are selected accounts and balances for Jonah Company and Hill, Incorporated, as of...

Finance
1.2K views

1) The AUAuto company is a highly respected auto manufacturing firm which is famous for...