cash paid to purchase long term investments would be reported in the statement of cash flows in

bapps/assessment/take/launch.jsp?course_assessment_id=_252599_1&course_id = _125971_18_content_id=_50260 aining Time: 25 minutes, 25 seconds. stion Completion Status: QUESTION 23 The balance sheets at the end of each of the first two years of operations indicate the following: Year 2 Year 1 Total current assets $600,000 $560,000 Total investments 60,000 40,000 Total property, plant, and equipment 900,000 700,000 Total current liabilities 125,000 65,000 Total long-term liabilities 350,000 250,000 Preferred 9% stock, $100 par 100,000 100,000 Common stock, $10 par 600,000 600,000 Paid in capital in excess of par--Common stock 75,000 75,000 Retained earnings 310,000 210,000 If net income is $150,000 and interest expense is $20,000 for Year 2. what is the rate earned on total assets for the year? O 10.4% O 11.9% Click Save and Submit to save and submit. Click Save All Answers to save all answers. - e e