Gable Exploration Company reported these figures for 2024 and 2023: (Click the icon to view the figures.) Compute the rate of return on total assets for 2024. (Round to two decimals.) Select the formula, then enter the amounts to compute the rate of return on total assets for 2024. (Enter the rate of return as a percent rounded to two decimal places, X.XX%.) + + + = Rate of return on total assets %
Gable Exploration Company reported these figures for 2024 and 2023: (Click the icon to view the figures.) Compute the rate of return on total assets for 2024. (Round to two decimals.) Select the formula, then enter the amounts to compute the rate of return on total assets for 2024. (Enter the rate of return as a percent rounded to two decimal places, X.XX%.) + + + = Rate of return on total assets %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Data table
Income Statement-partial:
Interest Expense
Net Income
Balance Sheet-partial:
Total Assets
$
$
2024
12,800,000 $
21,600,000
Dec. 31, 2024
300,000,000 $
2023
15,800,000
22,200,000
Dec. 31, 2023
320,000,000
O

Transcribed Image Text:Gable Exploration Company reported these figures for 2024 and 2023:
(Click the icon to view the figures.)
Compute the rate of return on total assets for 2024. (Round to two decimals.)
Select the formula, then enter the amounts to compute the rate of return on total assets for 2024. (Enter the rate of
return as a percent rounded to two decimal places, X.XX%.)
Rate of return on total assets
%
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