1 ROE and ROIC 3 Net income 4 Interest expense 5 Tax rate 6 Notes payable 7 Long-term debt 8 Common equity $23,000 $6,000 40.00% $25,000 $70,000 $260,000 10 ROE Formulas =B3/B8 8.85% #N/A $6,000.00 12 Partial Income Statement: 13 EBIT Interest 15 EBT 16 Taxes 17 Net income #N/A #N/A $23,000.00 18 19 Capital Summary: 20 Notes payable 21 Long-term debt 22 Common equity Total invested capital $25,000.00 $70,000.00 $260,000.00 #N/A 25 ROIC #N/A........ Video Excel Online Structured Activity: ROE and ROIC Baker Industries' net income is $23000, its interest expense is $6000, and its tax rate is 40%. Its notes payable equals $25000, long-term debt equals $70000, and common equity equals $260000. The firm finances with only debt and common equity, so it has no preferred stock. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet What are the firm's ROE and ROIC? Round your answers to two decimal places. Do not round intermediate calculations. ROE ROIC 8.85% % Check My Work Reset