Excel Online Structured Activity: ROE and ROIC Baker Industries net income is $27000, its interest expense is $6000, and its tax rate is 40%. Its notes payable equals $23000, long-term debt equals $80000, and common equity equals $245000. 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 firms ROE and ROIC? Round your answers to two decimal places. Do not round intermediate calculations. ROE fill in the blank 2% ROIC fill in the blank 3%

ROE and ROIC
Net income	$27,000
Interest expense	$6,000
Tax rate	40.00%
Notes payable	$23,000
Long-term debt	$80,000
Common equity	$245,000
			Formulas
ROE			#N/A
Partial Income Statement:
EBIT			#N/A
Interest	$6,000.00
EBT			#N/A
Taxes			#N/A
Net income	$27,000.00
Capital Summary:
Notes payable	$23,000.00
Long-term debt	$80,000.00
Common equity	$245,000.00
Total invested capital			#N/A
ROIC			#N/A