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Financial Management :Operating Income and Net IncomeThe Allen Corporation had sales in 2008 of $65 million,
total assets of $42 million, and total liabilities of $20 million. The interest
rate on the company’s debt is 6 percent and its tax rate is 30 percent. The
operating profit margin was 12 percent.What was the 2008 operating income and net income?
What was operating return on assets and return on equity? Assume that interest must be paid on all of the debt.