lonic Exploration Company reported these figures for 2018 and 2017: E (Click the icon to view the figures.) Compute the rate of return 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%.) Rate of return on total assets %3D %3D Data Table %3D Income Statement-partial: 2018 2017 Interest Expense $ 17,800,000 $ 14,500,000 Net Income 18,400,000 14,600,000 Balance Sheet-partial: Dec. 31, 2018 Dec. 31, 2017 Total Assets 2$ 322,000,000 $ 320,000,000 Print Done

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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lonic Exploration Company reported these figures for 2018 and 2017:
E (Click the icon to view the figures.)
Compute the rate of return 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%.)
Rate of return on total assets
%3D
Data Table
S:
Income Statement-partial:
2018
2017
Interest Expense
$
17,800,000 $
14,500,000
Net Income
18,400,000
14,600,000
Balance Sheet-partial:
Dec. 31, 2018
Dec. 31, 2017
Total Assets
$
322,000,000 $
320,000,000
Print
Done
Transcribed Image Text:lonic Exploration Company reported these figures for 2018 and 2017: E (Click the icon to view the figures.) Compute the rate of return 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%.) Rate of return on total assets %3D Data Table S: Income Statement-partial: 2018 2017 Interest Expense $ 17,800,000 $ 14,500,000 Net Income 18,400,000 14,600,000 Balance Sheet-partial: Dec. 31, 2018 Dec. 31, 2017 Total Assets $ 322,000,000 $ 320,000,000 Print Done
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