Gable Exploration Company reported these figures for 2018 and 2017.
Compute the rate of retum on total assets for 2018. (Round to two decimals.)
Select the formula, then enter the amounts to compute the rate of return on total assets for 2018. (Enter the rate of return as a percent rounded to two decimal places, X.XX%.)
Homework Answers
| (Net income | + | Interest expense) | / | Average total assets | = | Rate of return on total assets |
| ($20,000,000 | + | $14,500,000) | / | $321,000,000 | = | 10.75% |
Average total assets = ($322,000,000 + $320,000,000) / 2 = $321,000,000
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