​(Related to Checkpoint​ 4.3) ​(Analyzing Profitability) In​ 2016, the Allen Corporation had sales of ​$70 million, tota

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​(Related to Checkpoint​ 4.3) ​(Analyzing Profitability) In​
2016, the Allen Corporation had sales of ​$70 million, total assets
of ​$42 million, and total liabilities of 420million. The interest
rate on the​ company's debt is ​5.8 percent, and its tax rate is 35
percent. The operating profit margin is 11 percent.
a. Compute the​ firm's 2016 net operating income and net
income.
Part 1 a. Compute the​ firm's 2016 net operating income and net
income. The​ firm's 2016 net operating income is ​$  ___  enter
your response here million. ​ (Round to two decimal​ places.)